On 2 November 2002, National Settlement Depository (MOEX Group member) submitted a request to the Council of the European Union that the decision to include them on the sanctioned list should be reconsidered and legally challenged the decision on imposing restrictive measures on NSD on 3 June 2022.
In parallel, NSD challenges EU sanctions in the General Court of the European Court of Justice.
NSD uses its best endeavours to protect company’s rights and to unblock unsanctioned assets of financial market participants suffered.
Thus, NSD has introduced a marketing period for multiple transactions to enable releasing of assets of financial market participants.
On 30 September 2022 NSD submitted requests to competent authorities of Belgium and Luxemburg for an authorisation, which are under examination and no reply have been yet received.
NSD’s requests for an authorisation to release funds would not preclude financial market participants to submit individual requests on their own behalf according to EU legal framework.
To date, NSD has taken every effort available to NSD and as explained by the European Commission to aid lifting restrictions on assets of market participants suffered due to EU 8th sanctions package.
NSD will keep financial market participants informed as further information becomes available.