(Reuters] – Russian central banks have announced that investors who bought the GDRs (depositary receipts) of Russian-companies to be traded on foreign markets in order to convert them into shares won’t be able sell them quickly.

In an effort to decrease foreign control, a law was passed that requires Russian firms to remove foreign depositary receipts from foreign exchanges.

The central bank stated that it has instructed Russian depositories, citing the need for financial stability to separately account shares converted into GDRs and limit the sales to 0.2% per day.

This new rule will apply to all transactions made on the Moscow Exchange, as well as to any over-the counter deals.

Trading in Russian GDRs was already suspended by Western bourses. Investors from “unfriendly” countries – that is, those who have placed sanctions on Russia – might have chosen to sell their GDRs directly to Russians instead of trying to recover their value under Moscow’s capital controls.

Russian Securities Regulator, the bank also stated that they acted upon noticing Russians buying GDRs and hoping to sell them after conversion.

The Russian Stock Market could be affected by such deals, which would cause price declines and weaken the financial sector.

This rule does not apply to shares that were converted from GDRs purchased before March 1 or where a government commission gives a waiver.

After the February 24th invasion of Ukraine by Russia, major Russian companies, including Rosneft and Sberbank, their prices crashed, western bourses stopped trading in GDRs.