Creation of the Russian-Kazakhstan hub in the special tax regime of Kazakhstan, which could help Russia bypassing Western sanctions and attract foreign funding to the Russian market, is not discussed, reports The Insider with reference to the publication of kursiv.media.
According to the sources of the publication in the financial market, there is no talk of any creation of a special exchange on the basis of Russian capital. At the moment, the possibility of using technological developments of the St. Petersburg exchange is being considered to create a new trading platform, however, the direct or indirect participation of Russian official or legal entities in capital is not considered. Similarly, the project does not provide for the possibility of trade in Russian papers, which could help them bypass sanctions and attract foreign investments. “The project also does not involve Russian capital in it in any form. Including Russian joint -stock capital,” said one of the sources of kursiv.media.
Partly the lack of the idea of creating a Russian-financial hub was also confirmed by Freedom Holding Timur Turlov. He noted that there is no talk of any creation of a special exchange for Russia. In addition, he assured that the holding works exclusively in the legal field, including international restrictions. “We consider our participation only in international projects with a transparent and understandable structure to all its participants, as well as regulatory and supervisory authorities and exclusively within the framework of those rules of the game that were currently formulated by the international community,” he said.
Earlier it became known that the St. Petersburg Exchange (St. Petersburg), together with Freedom Holding, is considering the possibility of creating an exchange in the special tax zone of Kazakhstan, which could help Russian companies attract foreign funding bypassing sanctions. Sources claimed that the project was worked out with the approval of the Bank of Russia.