OREANDA-NEWS The Central Bank of the Russian Federation said that Russian banks have significantly reduced the volume of stocks of precious metals.

According to the bank, as of April 1, the balances on accounts that reflect such assets amounted to 227.3 billion rubles. This is the lowest since August 2019. In February-March, the volume of investments in precious metals decreased by 20.2 billion, or 17.2%.

According to RBC, as of April 1, 43.8 tons of this metal were stored in banks. In two months, the balances decreased by 11.4 tons (20.7%).

Earlier, from May 30, the Bank of Russia limited exchange trading in foreign securities that were blocked by international settlement and clearing organizations, except for securities of foreign issuers whose main activity is in Russia, the regulator said in a statement.

The measure is aimed at protecting the rights and interests of investors and minimizing their risks, the Central Bank stressed.

Prior to this, the Bank of Russia allowed Russian residents to contribute funds to the authorized capital of foreign companies subject to a number of conditions, according to a statement on the regulator's website.