BlackRock continues to consult with market participants to help our funds to exit their positions in Russian securities whenever and wherever regulatory and market conditions allow.
At this time, Russian securities that cannot be divested continue to be held in these and/or other ETFs with Russian exposure.
As and when non-local investors are allowed to trade and settle in the Russian stock market and in compliance with applicable law and regulations, including relevant sanctions laws, and under appropriate market conditions, BlackRock will seek to implement an orderly and managed disposal of such Russian securities in line with our fiduciary duties and respective fund investment objectives and policies.
Where certain Russian securities are not the subject or target of sanctions, or the respective sanctions regimes have issued legal authorisation to divest within a prescribed timeframe, BlackRock continues to assess whether it can transfer or divest those securities, including depositary receipts, when it is legally permissible and in the best interests of investors.
For any potential disposal, BlackRock will assess market conditions based on multiple factors including, but not limited to, legal restrictions, liquidity, spreads, international investor access, volume and volatility.