The Moscow Stock Exchange Group has decided to challenge the US sanctions introduced in June 2024. Information about this appeared on the Telegram channel “Club for the Protection of Investors’ Rights”.
Author:
https://rb.ru/author/ntihonov/
Subscribe to RB.RU on Telegram
The group, which includes the Moscow Exchange, the National Clearing Depository (NSD) and the National Clearing Center (NCC), is also preparing an appeal to OFAC to clarify the use of general licenses when unblocking assets.
OFAC has issued a license to close operations with these companies until October 12, 2024. The same document was issued by the British OFSI to unblock assets structured through NSD.
According to data from the Delcredere law firm, the Belgian Treasury and the Luxembourg Ministry of Finance do not apply US and UK sanctions when unfreezing assets in NSD accounts. However, Euroclear and Clearstream may require additional licenses if the assets are connected to these jurisdictions.
On the other hand, we note that the OFAC license, in principle, allows unfreezing NCC’s assets in US correspondent banks, but they believe that only Americans can use the document.
Earlier, RB.RU learned that the Moscow Stock Exchange plans to buy its brokerage company. The move was a response to brokers’ criticism of the possibility of providing investors with direct access to trading.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
