The European Union has published a lawsuit filed by the NSD to challenge the sanctions
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published in the Official Journal of the EU lawsuit National Settlement Depository (NSD) with a request to lift blocking sanctions. Telagam channel drew attention to this The Sanctions Law.
The NSD makes four main arguments:
- Insufficient justification for the adoption of sanctions by the EU Council;
- According to NSD, the NSD’s board made mistakes in assessing the actual circumstances;
- The disproportionate nature of the sanctions, in violation of Article 16 “freedom of enterprise” and Article 17 “respect for the right to property” of the EU Charter of Fundamental Rights;
- The illegality of the sanctions, as the EU Council failed to meet the standard of evidence.
The European Union imposed sanctions against the NRM in June. The amount of blocked securities of Russian residents due to sanctions against NSD evaluated at 6 trillion rubles. In August, the European Commission issued an indulgence: it was allowed make settlements with NSD only if it does not benefit. Immediately after this NRD canceled commissions for the transfer of Russian securities from foreign depositories, and at the end of August began operations on bank accounts in foreign currency at zero tariff.
How investors can return blocked securities – in the material “Compensation Assets”.
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