The Central Bank hopes that Euroclear and Clearstream will unlock the assets of “innocent” investors

First Deputy Chairman of the Central Bank Vladimir Chistyukhin said that the European depositories Euroclear and Clearstream, which are considering unlocking the assets of persons not subject to sanctions, plan to “release the innocent.” Mr. Chistyukhin expressed hope that the depositories will be able to do this in the near future.

“What issues are regulators Clearstream and Euroclear currently considering? They are considering the issue of unlocking the assets of those individuals who are not included in the sanctions lists. That is, you understand, all those who are under sanctions, there is no question of any unblocking,” Vladimir Chistyukhin said on the sidelines of the Ural Cybersecurity Forum (quoted by RIA Novosti).

“In fact, they want to release the innocent, and I really hope that they will find the strength to do this in the near future,” the first deputy chairman of the Central Bank said.

Following the introduction of EU sanctions against the National Settlement Depository (NSD), Clearstream and Euroclear suspended operations with NSD. According to the Central Bank, as a result, about 6 trillion rubles were frozen.

20 December 2022 Ministry of Finance of Luxembourg gave permission to unlock assets that are stuck in Clearstream before June 3 (before the imposition of EU sanctions). December 22 similar resolution has provided The Belgian Ministry of Finance is the regulator of Euroclear. To release the assets, proof is required that the investors that NSD is requesting are not under sanctions. Applications must be submitted by January 7th.

Read more about the situation – in the publication “Kommersant” “Eurobonds are looking for ways to replace”.

Lusine Balasyan