The European depository Euroclear refused the ruble as a settlement currency
The European depository Euroclear refused to accept the Russian ruble as a settlement currency and blocked its correspondent account at “ING Bank Eurasia” (the Russian division of ING Group). This was reported by the press service of Euroclear. All ruble balances will be converted into euros on February 8.
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What is known
The depositary will no longer accept orders for the transfer of funds in rubles, as well as any ruble payments, including income from securities and funds from their redemption.
Russian currency will not be accepted not only on an account at ING Bank Eurasia, but also on other ruble correspondent accounts opened by Euroclear.
Let’s remind
In March, foreign depositories Euroclear and Clearstream blocked the account of the Russian National Settlement Depository due to the introduction of EU sanctions against it.
Source: Ministry of Finance
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