NSD canceled the fee for transferring frozen shares for the purpose of unlocking
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The National Settlement Depository (NSD) will not charge a fee for transferring frozen foreign shares from the Clearstream Assets Release section of the account to deposit into custody account sections. The measure will be in effect from January 1 to January 31, 2023. This was reported press office NRD.
Cancellation of the commission will be valid for transfers within one account, clarified in NSD.
In the summer, the European Union imposed sanctions against the NRM because of Russia’s military operation in Ukraine. NSD is trying to challenge them in the EU court. In December 2022, the Belgian and Luxembourg authorities allowed the release of NSD’s assets, shares and coupon income, which were blocked in the Clearstream international depository. At the Central Bank believethat this does not guarantee the unblocking of the Russians’ assets in the NSD.
Waiving transfer fees is one of the conditions required to unlock customer assets. EU authorities insist that NSD should not benefit from operations while under sanctions.
More details – in the material “Kommersant FM” “NRD clarified”.
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