“As for depositary receipts, we have absolutely no intention of eliminating this instrument, god forbid! We want to create an environment that would make shares more investor attractive. Foreign and Russian investors will find it more convenient, profitable and natural to invest in Russian shares”, said Shvetsov.

According to him, this will allow “to remove the division between DRs and shares in the market”. “Today’s liquidity for Russian assets is split in two, an inconvenience for DR holders and shareholders alike”, said Bank of Russia Deputy Chairman.

However, he pointed out that DRs will stay. “We cannot afford to forego DRs. Still, we will continue to boost the advantages of share trading and share investment”, said Shvetsov.

Project Group №1