The license of the US Treasury’s Office of Foreign Assets Control (OFAC) to close operations with the Moscow Stock Exchange expires on October 12. And the department released an explanation of its actions.
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The Interfact agency reminds that the operation restriction also applies to the National Clearing Center (NCC) and the National Settlement Depository (NSD).
In its clarifications, OFAC, in particular, warned that all securities of American persons in NSD are considered blocked (the same applies to dividends and other income on them), and transfers under Presidential Decree 840 will be considered invalid.
We are talking about the decree “On the temporary procedure for accounting for certain securities” of October 2. Using it, you can transfer securities from deposit accounts of type “C” of depositors to personal accounts of type “C” of the depositors themselves. OFAC views this as an attempt to evade sanctions.
“OFAC cautions that such transfers may not be authorized under general licenses and may not be valid under OFAC regulation.”
The agency also warned that it would conduct a study to find Russian registrars that have not yet been blocked and later add them to new sanctions lists.
Recall that the Moscow Stock Exchange, NCC and NSD were included in this list on June 12. Previously, the license to restrict activities was issued until August 13, but was extended. It is also known that the Moscow Stock Exchange plans to defy US sanctions.
Author:
Ekaterina Alipova
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.
