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Russia’s National Settlement Depository launches legal fight in EU against sanctions

On September 30, 2022, the National Settlement Depository submitted requests to the authorized financial authorities of Belgium and Luxembourg to obtain licenses

MOSCOW, November 3. /TASS/. Russia’s National Settlement Depositor has filed an appeal with the European Council against the decision to include the depository on the EU’s sanctions blacklist, according to the press release from the Moscow Exchange.

Work on challenging the sanctions at the European Council is being carried out simultaneously with an appeal seeking to fight Brussels’ sanctions in the court of general jurisdiction of the EU.

"The National Settlement Depository is taking all the necessary steps to defend its rights, as well as to release the blocked non-sanctioned assets of the affected financial market participants," the report said.

On September 30, 2022, the National Settlement Depository submitted requests to the authorized financial authorities of Belgium and Luxembourg to obtain licenses. They are still under consideration and no response has yet been received.

The press release noted that the National Settlement Depository will keep financial market participants informed in the event that it receives any additional information.

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