Expobank received a license to unlock NSD’s assets in Euroclear – Kommersant
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The Belgian Ministry of Finance issued a license to Expobank to unlock assets frozen in the accounts of the National Settlement Depository (NSD, part of the Moscow Exchange Group) in the Euroclear international depository. This was announced by the partner of the law firm BGP Litigation Sergey Glandin, his words are quoted by FrankMedia.
As Mr. Glandin said, Expobank received a license a couple of weeks ago. The license was issued to unlock the bank’s own assets, which do not include shares and funds on the accounts of its clients.
The license to Expobank is one of the few positive decisions of the Belgian Ministry of Finance upon the application of Russian individuals and legal entities. Most often, licenses are obtained by private investors, FrankMedia notes. Permission to unblock among legal entities was received by Saint Petersburg Bank, which was able to recover $107.1 million in ruble equivalent from Euroclear, and Uri-Bank, the Russian subsidiary of the South Korean Woori Bank. The licenses issued to them also affect only the banks’ own assets.
How investors get licenses to unlock assets – in the material “Kommersant” “Residence permit in Euroclear”.
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