NSD challenged European sanctions in Luxembourg court
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On August 12, the National Settlement Depository (NSD) filed a lawsuit with the Court of the European Union in Luxembourg to lift European sanctions. This is stated in statement Moscow exchange.
NSD is the central depository on the Russian stock market and services securities as a central depository. Provides depository and clearing services in the financial market, including collateral management services, and repository services.
“The purpose of the lawsuit is to prove the illegality and groundlessness of including NSD in the EU sanctions lists, as a result of which Russian and foreign investors suffered,” the Moscow Exchange said.
European Union introduced blocking sanctions against NSD on June 3, 2022. Immediately after that, the depository of the Moscow Exchange suspended operations in euros. The EU magazine pointed out that the NSD depository is the largest in Russia and is the only one that has access to the international financial system.
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