European depositary Clearstream Banking issued explanations under the sixth package of EU sanctions, from which it follows that any transactions involving the National Settlement Depository, which is part of the Moscow Exchange group, will be subject to sanctions.
Any trading operation with securities of Russian issuers or depository receipts in which NSD participates is prohibited. Such clarifications, according to Clearstream Banking, are contained in a message from a division of the European Commission department, which, among other things, monitors compliance with EU legislation.
Clearstream Banking is an international central depository headquartered in Luxembourg. It serves the post-trading infrastructure of the Eurobond market. NSD, which conducts all exchange and over-the-counter settlements, came under EU sanctions on June 3. €4.5–7 billion of Russian banks remain blocked on the accounts of the depositary.
For more details, see the article “NSD does not have a Supervisory Board”.
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