Selling Russian Stocks – What Experts Advise

Frankfurt These days, holders of depositary receipts of Russian shares – called ADRs or GDRs – receive mail from their custodian. The depositary receipts would have to be submitted to the issuing bank within a period of time for conversion into the original Russian shares.

That sounds simple – but it is not, as research by the Handelsblatt shows. A bank representative explains: “Because of the reciprocal sanctions of the West against Russia and vice versa, the situation is extremely complex and constantly changing.” It is therefore currently unclear whether the submission and conversion will work in practice. The affected investors are correspondingly unsettled.