DTCC blocks all activity to securities issued by Sberbank of Russia processed through its ITP Services
26 May 2022 US
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DTCC has blocked all activity relating to securities issued by Sberbank of Russia via any DTCC Institutional Trade Processing (ITP) service, in response to the Russian invasion of Ukraine.
DTCC continues to assess the impact of the US, UK and EU sanctions imposed on Russian entities under the directives issued by the Department of the Treasury's Office of Foreign Assets Control, the Office of Financial Sanctions Implementation and the Council of European Union.
The corporation will also block all activity relating to securities issued by State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank, Public Joint Stock Company Bank Financial Corporation Otkritie, and Sovcombank Open Joint Stock Company.
DTCC said it will block all activity relating to securities issued by the above entities, meaning no activity will be allowed to be processed via any DTCC institutional trade processing service effective from yesterday(25 May).
DTCC blocked Russian securities from the Bank of Russia and The Ministry of Finance of the Russian Federation on 3 March, a week to the day the Russian invasion of Ukraine began on 24 February.
The move from DTCC followed Euroclear Bank’s announcement on 1 March, outlining it was no longer accepting Russian ruble as a settlement currency on its international central securities depositories.
Euroclear said that it would no longer accept payment settlement instructions in Russian domestic securities.
DTCC continues to assess the impact of the US, UK and EU sanctions imposed on Russian entities under the directives issued by the Department of the Treasury's Office of Foreign Assets Control, the Office of Financial Sanctions Implementation and the Council of European Union.
The corporation will also block all activity relating to securities issued by State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank, Public Joint Stock Company Bank Financial Corporation Otkritie, and Sovcombank Open Joint Stock Company.
DTCC said it will block all activity relating to securities issued by the above entities, meaning no activity will be allowed to be processed via any DTCC institutional trade processing service effective from yesterday(25 May).
DTCC blocked Russian securities from the Bank of Russia and The Ministry of Finance of the Russian Federation on 3 March, a week to the day the Russian invasion of Ukraine began on 24 February.
The move from DTCC followed Euroclear Bank’s announcement on 1 March, outlining it was no longer accepting Russian ruble as a settlement currency on its international central securities depositories.
Euroclear said that it would no longer accept payment settlement instructions in Russian domestic securities.
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