EU residents can submit applications for conversion of DR into Russian shares until September 25
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Residents of the European Union, until September 25, can submit applications to the competent authorities of their countries to convert depositary receipts (DR) into Russian shares, which are taken into account by the National Settlement Depository, the European Depository reported Clearstream.
Clearstream clarified that the opportunity to resume execution of orders for DR conversion appeared after clarifications received from the authorities of Germany and Luxembourg. Clearstream Banking will approximately begin executing conversion instructions on September 20.
June 28 Clearstream Banking announced on the suspension of execution of instructions for converting depositary receipts into Russian shares. The decision was related to the adoption of the 11th package of EU sanctions against Russia on June 23, namely amendments to Art. 5a of EU sanctions regulation 269/2014.
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