Can I convert my Russian ADR/GDRs to local shares?

Transfers of non-sanctioned Russian securities to a non-U.S. broker by non-EU persons for divestment purposes will be evaluated on a case-by-case basis.  Requests should include an attestation that the transfer is for the purpose of divesting the holding to a non-U.S. person.  IBKR reserves the right to reject or cancel pending transfers. …

The Russian government has established its own procedures through which Russian residents can convert Depository Receipts or submit a forced transfer of Russian securities to the NSD.  In compliance with relevant sanctions laws and regulations, including those issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), IBKR does not participate in either process and will not provide signed and stamped statements, safekeeping certificates, or depositary/custodian information for Russian securities that can be used to facilitate either process…

Updated as of December 15, 2022

1. What are the restrictions on non-sanctioned Russian securities? The U.S. sanctions prohibit U.S. financial institutions from facilitating the purchase of securities of any Russian company.  This means that you cannot open new positions in Russian securities, including their derivatives. …

There is a wind-down period until August 13, 2024, during which clients can divest (close out) to non-U.S. persons non-sanctioned Russian securities traded on MOEX or cleared through the NCC/NSD.  Starting August 13, non-sanctioned Russian securities will be fully restricted and you will not be able to trade or transfer your positions. …