The funds trapped by Finns in Russia are hundreds of millions

Western sanctions against the Russian economic and financial system are essentially wiping out the value of Russian shares.

Finnish Russian mutual funds have made losses of around EUR 600 million.

has closed the stock exchange to prevent capital flight. According to , this means that about 80,000 are trapped in mutual funds focused on Russia. These funds have suspended redemptions.

"When the Moscow Stock Exchange reopens day, foreign investors are likely to be prevented from selling," Tuomas Virtala OP Bank was told about .

Finnish funds abandoned Russia before its occupation of Ukraine. They began to withdraw money when Russia annexed .

According to Statistics , Finnish , associations and households had committed EUR 1.2 billion in Russian securities last year.

However, this amount is only a fraction of Finnish invested capital. The value of assets managed by Finnish mutual funds was EUR 150 billion in January, according to the investment reporting service.

This week’s Yle News All Points North podcast discussed how Russia’s attack on Ukraine will affect Finland.

Source: The Nordic Page

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