The EU clarified the conditions for unfreezing private Russian assets
[ad_1]
The European Commission will enable the National Settlement Depository (NSD) to unfreeze assets to complete contracts and agreements. To do this, they must obtain appropriate permits from European regulators. This follows from the document on the eighth package of sanctions in the official magazine European Union.
The competent authorities of the EU countries, for example, regulators or ministries of finance, can give permission to unfreeze assets. In order to complete transactions under agreements concluded before June 3 (the day NSD was sanctioned), Russian depositories can receive conditions and resources on “reasonable” terms. Operations are allowed until January 7, 2023.
The European Commission has already given sanctions relief to NSD after it came under restrictions in June. The European Commission allowed settlements with the depository on the condition that he would not receive material benefits. In this regard, NRD canceled commissions for the transfer of Russian securities from foreign depositories, as well as began operations on bank accounts in foreign currency at a zero rate. The cost of all blocked securities evaluated at 6 trillion rubles.
Earlier today Clearstream International Depository resumed settlements on depository receipts (DR) for Russian shares of issuers. Settlements have been resumed for those issuers for which the depository program agents have open books for the cancellation of receipts.
About sanctions – in the publication “Kommersant” “The depositary checks the justifications”.
[ad_2]
Source link
