One of the Russian investors, whose assets were frozen at Belgian depository Euroclear, managed to unlock $2 million, Vedomosti writes, citing the NSP law firm, whose client is the investor.
In 2022, European depositories blocked the accounts of the National Settlement Depository, resulting in the freezing of investors’ assets. However, late last year, the financial departments of Belgium and Luxembourg issued permission to lift restrictions on some assets.
In June 2023, one of NSP’s clients received permission from the Belgian Treasury to unfreeze securities locked in NSD’s Euroclear account. In early August, the investor sent the corresponding instruction to the depository to transfer assets from an account at Raiffeisenbank to an account at a foreign broker registered in Cyprus (which one is not specified). The order was executed the day before, on August 29.
In parallel with these processes, previously a group of private investors, represented by NSP, filed a class action lawsuit with the Moscow Arbitration Court against Euroclear Bank for 2 billion rubles. A similar claim worth 200 million rubles was filed against Luxembourg-based Clearstream.
In total, 13 claims against Euroclear were filed before Russian arbitration courts for an amount of more than 200 billion rubles. Among the plaintiffs are the MTS Bank, the Urals Bank for Reconstruction and Development with a demand of 69.3 million dollars, as well as Energia-Invest with a demand of 1.6 million dollars and others.
On Wednesday, August 30, it became known that Belgium had refused to release the assets of Tinkoff Insurance. Tinkoff Investments’ application is still under review, writes Forbes.
Previously, the Belgian Treasury also refused the use of the Russian Digit Broker. The company later announced its intention to challenge this decision.
Author:
Natalia Gormaleva
Source: RB
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