In a letter to clients, the Central Depository of Kazakhstan recommended completing all settlements and removing Russian securities to avoid their freezing in the accounts.
Kazakhstan’s Central Securities Depository urged clients to withdraw Russian securities from the country. This need arose in connection with the US blocking sanctions against the Russian National Settlement Depository (NSD), The Moscow Times wrote on Thursday, July 11.
The depository has about 140 types of securities with the prefix RU, including government and corporate bonds and shares.
In a letter to clients, the Central Depository recommended completing all settlements and removing Russian securities to avoid freezing them in their accounts. If clients fail to do so by the specified date, the assets will be effectively blocked.
According to the depositary, from March to December 2022, Kazakh brokers made agreements with Russian federal loan bonds in the amount of 641.1 billion tenge (1.4 billion US dollars). Also in 2022, shares worth 50 billion tenge (USD 104.6 million) and other financial instruments worth nearly 2 trillion tenge (USD 4.2 billion) were transferred to the deposit.
We remind you that Kazakhstan will comply with all Western sanctions measures against Russia. The country’s President Kassym-Jomart Tokayev said this in a joint meeting with German Chancellor Olaf Scholz.
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.