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Changing Gazprom ADRs to Russian shares

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My broker will no longer  hold my Gazprom ADR shares, OGZPY, and tells me I must transfer them to Russian shares.  Does anyone have any experience with this kind of thing?

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Yea he's right. President Puting signed a law that ADR are no longer allowed outside Russia. The easiest way is to sell or convert to Russian shares. But then you have to change broker to as example QatarNational Bank, Turkey or so.

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7 hours ago, DMCarson said:

My broker will no longer  hold my Gazprom ADR shares, OGZPY, and tells me I must transfer them to Russian shares.  Does anyone have any experience with this kind of thing?

My broker offered to do it, but hasn't done it yet. Actually, for all the Russian ADRs. I am in Austria. The process looks messy. You are supposed to get a ruble account with the Russian Central Bank?, where all the dividends will go for now. (They don't know how to transfer the money out of Russia yet)

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29 minutes ago, Starschy said:

Yea he's right. President Puting signed a law that ADR are no longer allowed outside Russia. The easiest way is to sell or convert to Russian shares. But then you have to change broker to as example QatarNational Bank, Turkey or so.

Don't think this has anything to do with Putin. The ADRs got booted off the Western exchanges, and the Russians couldn't tell whose stock it is, because it was held in escrow by the ADR's underwriter. I had to sign a bunch of release forms allowing my broker to reveal my identity to the Russians, and the process still isn't done. This also happened to my Gazprom Neft and Lukoil ADRs / GDRs.

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Thanks Andrei.

My broker doesn't want to touch it for obvious reasons.

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(edited)

If I were you (Im also Gazprom shaleholder) I would probably simply wait for next few months if you can. Winter is coming and at least some temporal ceasefire is needed from both sides.

Simply Europe needs this NG and Russia under sanctions simply needs this money from such an extremely expensive NG in Europe. In Kommmersant (lets say some kind of russian NYT) they say its all about a threat of cutting gas to get some ease of sanctions. Threat of cut of gas not real cut they say.

If you even think Putin is some kind of  new Hitler. He is not IMHO.

But let see - Hitler rule killed good companies like BMW, Porsche or Wolsvagen? Or not really?

 In the same way IMHO western world has a really long-term major problem with NG - Russia and Iran under sanctions are simply two countries with biggest NG reserves in a world.

Sooner or later world will simply need this NG even in worst case you can imagine now.

For now it will be Chinese that will use this NG from Gazprom. But also Turkey and Im sure at least some members of European Union. And Im talking not only about Hungary.

Long term - Russia and Iran has biggest NG reserves in the world. And also by far the cheapest one.;

Short term - Gazprom contract with China is based on oil and oil product price of last 9 month time. Its really I must admit not the best one for Gazprom you can imagine. But we are also at 100 $ oil enviroment in next couple of years.

Edited by Tomasz

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(edited)

9 hours ago, DMCarson said:

Thanks Andrei.

My broker doesn't want to touch it for obvious reasons.

The way I understood it is that the Russian offer is good indefinitely. Their only problem is that they don't know who you are, as all the ADR investors in their stocks have been effectively anonymized.

Edited by Andrei Moutchkine

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8 hours ago, Tomasz said:

If I were you (Im also Gazprom shaleholder) I would probably simply wait for next few months if you can. Winter is coming and at least some temporal ceasefire is needed from both sides.

Simply Europe needs this NG and Russia under sanctions simply needs this money from such an extremely expensive NG in Europe. In Kommmersant (lets say some kind of russian NYT) they say its all about a threat of cutting gas to get some ease of sanctions. Threat of cut of gas not real cut they say.

If you even think Putin is some kind of  new Hitler. He is not IMHO.

But let see - Hitler rule killed good companies like BMW, Porsche or Wolsvagen? Or not really?

 In the same way IMHO western world has a really long-term major problem with NG - Russia and Iran under sanctions are simply two countries with biggest NG reserves in a world.

Sooner or later world will simply need this NG even in worst case you can imagine now.

For now it will be Chinese that will use this NG from Gazprom. But also Turkey and Im sure at least some members of European Union. And Im talking not only about Hungary.

Long term - Russia and Iran has biggest NG reserves in the world. And also by far the cheapest one.;

Short term - Gazprom contract with China is based on oil and oil product price of last 9 month time. Its really I must admit not the best one for Gazprom you can imagine. But we are also at 100 $ oil enviroment in next couple of years.

Volkswagen did not exist yet. There was already the Auto Union, eventually both Audi and Trabant :)

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Thanks Tomasz and Andrei,

My broker says it will not hold the Gazprom after 8/3/2023.  If the operators of Gazprom don't know who the owners of the ADRs are, there is no way dividends can be paid.  In addition, the ADR owners are set up for theft of their shares, if not charges of treason by the U.S. national security bureaucracy.

 

 

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