NSD appeals sanctions to the Council of Europe
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The National Settlement Depository (NSD) filed an appeal with the Council of Europe to appeal against the decision to include it in the EU sanctions lists. This was reported by the Moscow Exchange. As noted in the message of the exchange, NSD has already appealed against the sanctions in the court of general jurisdiction of the EU, also submitted requests to the financial authorities of Belgium and Luxembourg for obtaining licenses, but they have not yet been answered.
“Thus, NSD has now taken all steps within its power to create conditions for the release of assets of the affected financial market participants announced under the eighth package of European sanctions, and also taking into account the clarifications of the European Commission,” the statement says. press release on the website of the Moscow Exchange, which owns NSD.
Sanctions against NRM EU introduced June 3rd. This decision was motivated by the fact that NSD plays a “significant role in the operation of the financial system of Russia” and is almost completely owned by the Moscow Exchange, which is “controlled by the Russian authorities” through its shareholders.
24 October SPB Exchange allowed investors to enter into exchange transactions with a part of the blocked foreign securities. This happened thanks to an unnamed institutional investor who exchanged his securities for those blocked in NSD.
At the same time, not a single Russian has yet managed to return the opportunity to use unlocked securities. Clients have achieved unfreezing only payments on coupons of foreign companies, they said in Tsifra Broker (formerly Freedom Finance). Individual owners of the instruments were able to receive money.
More details in the publication “Kommersant FM” “Assets are looking for an opportunity to unfreeze”.
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