Nabiullina called frozen Western assets an unreliable source for investment

Funds in Type C accounts are not a reliable source of investment in the Russian stock market. This was stated at a press conference on Friday by the head of the Central Bank of the Russian Federation Elvira Nabiullina.

"The introduction of such accounts was a response to the freezing of assets of both the Central Bank and individuals, and therefore, in my opinion, it should be maintained in this form. And due to this resource it is impossible to create some reliable source for investment.

We need to create attractive investment conditions so that Russian citizens, businesses and foreigners— both friendly and unfriendly, who want to invest in the Russian economy, can invest. To do this, it is necessary to create conditions for non-residents. If they invest after 2022, then it is necessary to give them the opportunity to repatriate profits… I don't really support the idea of using Type C accounts," Nabiullina said, quoted by Interfax.

Earlier in October, the head of the Supervisory Board of the Moscow Stock Exchange, Sergey Shvetsov, proposed allowing funds from type C accounts to be invested in the Russian stock market to at least friendly non-residents.