At the moment, no one can say. First, the sanctions must be lifted and then the exchanges would have to resume trading the securities.

Yes, anyone, whether a company or a natural person, regardless of citizenship.

Theoretically this is possible. For this purpose, an instruction for conversion must be given to your bank/broker. However, experience has shown that this will only be possible if your bank/broker maintains a securities account in Russia and if Clearstream (the custodian of the securities) can transport them to America in order to initiate the conversion at the relevant bank.

Generally, your broker/bank will incur fees per unit. As a rule, these are 0.05 to 0.15 EUR. There may be other fees as well.

Subject to change every day, the following countries are friendly from Russia's point of view : Belarus, Syria, Iran, Venezuela, Myanmar, India, China, Brazil.

We do not give tax advice. But in general, the sale of the securities, whether exchange or over-the-counter, should be tax deductible. Please contact your tax advisor for more details.

If you notify your bank/broker in writing of your acceptance of the offer and register the blocking notice in good time with your broker/bank for the securities you are selling, then at the end of the acceptance period your bank will transfer the money to your account. In addition, you still have a claim for rectification against the seller.

You can no longer sell a security with a blocking notice to a third party. This is to prevent the same security from being sold twice.

You must inform your broker/bank of the offer and ask them to accept the offer with their written instructions. In addition, you must instruct your bank/broker to place a blocking notice in favor of the buyer for the sold securities in your securities account.

Subsequent improvement means that there may be a subsequent payment at a later date. However, it is not certain that there will be any subsequent improvement at all. The buyer is trying to convert the securities and liquidate the Russian shares. If he succeeds, then you will receive another 30% of the proceeds after costs. The buyer will notify their bank/broker about this.

There is no fixed date for this. It is just as possible that the buyer will be stuck with the securities and they will ultimately become worthless. Then there is no rectification.

This is best explained by an example. The Gazprom ADR contains two Russian Gazprom shares. Currently, they are worth about 400 rubles together. This corresponds to 6.60 EUR. Of this, you would receive 30%, i.e. around 2 EUR, minus the costs incurred (conversion costs, custody fees in Russia, sales fees in Russia and exchange fees, as well as possibly other fees that are not yet foreseeable.

If you do nothing, the securities will remain in your securities account. You will not be able to claim the tax loss, as there is no sale, and you have the risk that the securities will suffer a total loss. On the other hand, you also have the chance that the sanctions will be lifted sometime after the conflict and the securities will be allowed to trade again.

Please contact us at backoffice@adr-offer.com and we will make you an individual offer.