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Kazakh depository asks clients to withdraw Russian securities by August 10

In its letter the depository notifies its clients in sufficient time in advance about possible restrictions and difficulties in executing orders "on securities with RU ISINs" after the mentioned date, according to the press service

ASTANA, July 11. /TASS/. The Central Securities Depository (KCSD) of Kazakhstan has confirmed media reports that it has asked clients to withdraw Russian securities from its nominal holding after the introduction of the US’ blocking sanctions against the National Settlement Depository. The Kazakh depository noted that the deadline for withdrawal is August 10, not August 1 as media outlets reported.

"The letter sent by the Central Securities Depository to certain depositors is due to the introduction of the US’ blocking sanctions against the National Settlement Depository. The letter from the Central Depository mentions a deadline of August 10," a source in the organization’s press service told TASS.

In its letter the depository notifies its clients in sufficient time in advance about possible restrictions and difficulties in executing orders "on securities with RU ISINs" after the mentioned date, according to the press service.

"In processing instructions from clients, the Central Depository will consider the possibility of executing them from the viewpoint of assessment of risks and consequences that may arise as a result of it," the source explained.

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