Russian broker running asset swap scheme in contact with US banks, funds

MOSCOW, April 15 (Reuters): The Russian broker organising a frozen asset swap scheme that could free up stranded funds for Russian and non-resident investors has seen tens of billions of roubles of demand from foreigners including US banks and funds, it said on Monday.
Moscow presents the plan as a way for both Russian and foreign investors to free up assets that have been blocked by Western sanctions and Russian counter-measures since the start of the conflict in Ukraine more than two years ago.
There has been strong demand from Russian retail investors, Alexei Yakovlev, director of the finance ministry's financial policy department, said earlier this month. Retail investors wishing to participate have until May 8 to submit offers.
Voronezh-based broker Investitsionnaya Palata (Investment Chamber) was appointed by the finance ministry to run the scheme.
Investitsionnaya Palata is communicating with several dozen foreign institutional investors, CEO Alexey Sedushkin said, with banks and funds from the United States, United Kingdom and European Union ready to take part.