Sergey Tarasevich has explained to Cbonds Weekly News whether the position of Clearstream and regulator Euroclear will affect the prospects for the exchange of blocked assets
On 8 May 2024, the deadline for accepting bids for the exchange of blocked assets worth up to RUB 100,000 expired. According to the data of the exchange bidding organiser, the demand for the redemption of assets from non-resident investors exceeded the potential supply of Russians. At the same time, Clearstream depository and the Belgian Ministry of Finance, which acts as a regulator of Euroclear depository, said that the Russian presidential decree, which regulates the exchange of blocked assets, is not valid in the European Union.
Sergey Tarasevich, Associate of Tax & Administrative Law Practice at Maxima Legal, helped Cbonds Weekly News to understand whether the position of the foreign depository and the Treasury will affect the exchange process.
To watch the interview (in Russian), please, see Cbonds Weekly News channel on YouTube >>>