MOSCOW, December 28. /TASS/. The permits issued by international depositories Clearstream and Euroclear to unblock assets do not guarantee Russian investors that they will be able to manage these assets again and receive payments on them, the Bank of Russia said.
"The issued authorizations do not yet guarantee that Russian investors will again be able to manage the blocked assets and receive payments on them. Tight deadlines, vague wordings in the authorizations and the complexity of the unblocking procedure do not give confidence that Western regulators are ready to secure the right of Russian investors to manage their property. Investors need to wait for notices on results of asset release activities from their brokers/depositories," the Central Bank said. Russia’s National Settlement Depository is working on the release of investors’ assets and payments due to them together with securities market professionals in line with the received authorizations, the regulator noted.
The Central Bank recommends investors check their personal details in the personal accounts of the broker/depository (in a mobile app or on a website) and promptly update them if needed. They should also be prepared to clarify this data at the request of the broker/depository and provide copies and originals of documents that may be required for unblocking purposes. "It is important for all market players to coordinate interaction for the release of foreign securities," the Bank of Russia noted.
The Finance Ministry of Luxembourg issued the permit on December 20, 2022 and the Belgian Treasury did the same on December 22, 2022. Both regulators set a very tight deadline to complete the release procedures - by January 7, 2023.