The Belgian Ministry of Finance thought it was possible to unlock the assets of the National Depository of Accounts.
BRUSSELS, December 22 – RIA Novosti. The Belgian authorities, where the Euroclear warehouse is registered, considered it possible to unlock the assets of the National Clearing House (NSD, part of the Moscow Exchange group), subject to a number of conditions. The Ministry of Finance.
On 3 June, the EU added NDR to the list of sanctions, then as part of the 8th package of restrictive measures, the EU adopted amendments to the release of funds invested in NSD.
The statement explains that these changes “allow operators to withdraw from NSD and apply only to the sale of positions held through NSD’s frozen accounts in order to end the relationship between the applicant and NSD.”
“The General Treasury has determined favorable conditions for the sale of positions deposited in NSD and frozen in the accounts of a Belgian financial institution,” the statement said.
These conditions include, in particular, verification of the applicant and his beneficial owners.
The last application for the relevant transactions will be made on January 7, 2023.
In early June, the European Union included NSD on its sanctions lists as part of the sixth package of anti-Russian sanctions, after which Switzerland joined the restrictive measures. As a result, in addition to the securities and funds of Russian customers in various currencies that have been blocked in NSD’s accounts with Euroclear and Clearstream since March, funds in euros and francs in accounts of NSD with foreign correspondent banks were also blocked.
Earlier, Russian brokers sent applications to the competent authorities of Belgium and Luxembourg, where Euroclear and Clearstream are registered, to unblock clients’ foreign assets.
In September, NSD sent general license requests to the Belgian and Luxembourg Finance Ministries to unlock the assets of all non-sanctioned investors.
According to the text of the Luxembourg license, the authorization relates to operations to complete transactions completed before 3 June, when EU sanctions against NSD were introduced. These transactions must be completed by January 7, 2023. NSD has confirmed that it has obtained a general license from the Luxembourg Ministry of Finance to unlock the assets.
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