Euroclear abandoned the ruble as a settlement currency
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The European depository Euroclear refused to accept the Russian ruble as a settlement currency and blocked its correspondent account with ING Bank Eurasia (the Russian division of ING Group). This was reported press office Euroclear. All ruble balances will be converted into euros on February 8th.
The depositary will no longer accept orders for transfer of funds in rubles, as well as any ruble payments, including income from securities and funds from their redemption. Russian currency will not be accepted not only to an account with ING Bank Eurasia, but also to other ruble correspondent accounts opened by Euroclear.
In March, foreign depositories Euroclear and Clearstream blocked account of the Russian National Settlement Depository due to the imposition of EU sanctions against it.
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