Central Bank says there have been no foreign applications for new "In" accounts
The Bank of Russia has not received any foreign applications to open the new "In" accounts. This was announced by Central Bank Deputy Chairman Filipp Gabunia on 25 September on the sidelines of an international banking forum, RBC Investments reports. "We have not received any applications," he replied in answer to a question.
On 1 July 2025, the Russian President signed a decree providing guarantees for foreign investors wishing to invest in shares or bonds of Russian companies, federal loan bonds, and Russian mutual funds. The document allows foreign investors from all countries, including unfriendly ones, to buy and sell Russian securities and to freely repatriate income earned on such assets. Foreign persons are also free to place deposits in Russian banks.
The procedure applies to new foreign money entering Russia from abroad starting 1 July 2025. A new type of account has been introduced for such investments - the "In" account. Foreign persons who now have "C" type accounts may also invest with "In" accounts using new money. But assets held in "C" accounts will remain limited and cannot be used for investments.
Under a presidential decree in late July, the Bank of Russia lifted restrictions on the purchase of foreign currency on the domestic market for potential new foreign investors from unfriendly countries who will use "In" accounts. Deputy Finance Minister Alexei Moiseyev said there was interest from potential investors, referring to "funds registered in a friendly country, but with money from both friendly and unfriendly investors." However, experts said that the inflow of such investments is unlikely to happen without the easing of sanctions by Western countries.