Russian investments trapped

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Topic Author
Paracelsus
Posts: 2
Joined: Sun Feb 11, 2024 8:50 am

Russian investments trapped

Post by Paracelsus »

I had money in both Gazprom and RSX when they were delisted. A year ago there was an option to convert shares but you had to open a Russian account via third parties and to be honest I couldn't figure out how to do it

Currently both investments sit at 0 in my portfolio.

What in your opinions are the possibilities for ever recovering these in the future?
Silk McCue
Posts: 8872
Joined: Thu Feb 25, 2016 6:11 pm

Re: Russian investments trapped

Post by Silk McCue »

Unfortunately I’d say close to zero if not zero itself.

Cheers
exodusNH
Posts: 10077
Joined: Wed Jan 06, 2021 7:21 pm

Re: Russian investments trapped

Post by exodusNH »

Paracelsus wrote: Sun Feb 11, 2024 8:55 am I had money in both Gazprom and RSX when they were delisted. A year ago there was an option to convert shares but you had to open a Russian account via third parties and to be honest I couldn't figure out how to do it

Currently both investments sit at 0 in my portfolio.

What in your opinions are the possibilities for ever recovering these in the future?
Zero
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swong
Posts: 141
Joined: Tue Nov 13, 2012 6:51 am
Location: NYC

Re: Russian investments trapped

Post by swong »

In the interest of info sharing with other fellow investors how did you come upon deciding investing in Russian equities in the first place? For a while I too was interested in investments in China but balked when they also started experiencing banrupcies in the housing market, and when restrictions on selling high end semiconductors this gave me pause for any overseas investments. Until the Ukranian conflict reared it's ugly head Gazprom was one of the Russian oil companies literally making money hand over fist but no longer. Finally have you other overseas investments and how do you feel about this predicament you are currently in?
aristotelian
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Joined: Wed Jan 11, 2017 7:05 pm

Re: Russian investments trapped

Post by aristotelian »

Zero, unless you are planning to move to Russia, Iran, or North Korea.

EDIT: The interesting question now is whether you can declare it a total loss. FYI: https://www.pkfod.com/insights/tax-trea ... securities
Topic Author
Paracelsus
Posts: 2
Joined: Sun Feb 11, 2024 8:50 am

Re: Russian investments trapped

Post by Paracelsus »

swong wrote: Sun Feb 11, 2024 11:29 am In the interest of info sharing with other fellow investors how did you come upon deciding investing in Russian equities in the first place? For a while I too was interested in investments in China but balked when they also started experiencing banrupcies in the housing market, and when restrictions on selling high end semiconductors this gave me pause for any overseas investments. Until the Ukranian conflict reared it's ugly head Gazprom was one of the Russian oil companies literally making money hand over fist but no longer. Finally have you other overseas investments and how do you feel about this predicament you are currently in?
It was pure greed. Gazprom is, as you said a great company. Was trading around 30, down to 3 thought the war would last the year, another few years of chilly relations and then back to a semblance of detente again.
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typical.investor
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Joined: Mon Jun 11, 2018 3:17 am

Re: Russian investments trapped

Post by typical.investor »

Paracelsus wrote: Sun Feb 11, 2024 8:55 am I had money in both Gazprom and RSX when they were delisted. A year ago there was an option to convert shares but you had to open a Russian account via third parties and to be honest I couldn't figure out how to do it

Currently both investments sit at 0 in my portfolio.

What in your opinions are the possibilities for ever recovering these in the future?
Did you see this thread about a reporter doing a story on it?

viewtopic.php?t=423800
csr
Posts: 40
Joined: Fri Aug 12, 2022 6:43 pm

Re: Russian investments trapped

Post by csr »

Paracelsus wrote: Sun Feb 11, 2024 8:55 am A year ago there was an option to convert shares but you had to open a Russian account via third parties and to be honest I couldn't figure out how to do it

Currently both investments sit at 0 in my portfolio.
Russia stock index is up 25% over the past year, outperforming both the Dow and S&P500. I would hold on to them if you can.
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