Central Bank Halts Trading of Hong Kong Dollar
June 18, 2024, 3:48 am
On June 13, 2024, the Central Bank decided to suspend trading of the Hong Kong dollar. They also changed the start time of the currency trading session on the Moscow Exchange from 6:50 am to 9:50 am. At the same time, trading in the futures market with settlements in currencies other than the dollar and euro will begin. Moscow Exchange and its National Clearing Center were hit with US sanctions, leading to the suspension of trading in US dollars and euros. Russian individuals and entities can still buy and sell dollars and euros through banks, with the Central Bank determining official exchange rates from other sources. Stay informed with our Telegram channel for the latest news and events.
Euroclear Suspends Asset Unlocking for Russians Due to US Sanctions
Euroclear, a Belgian depository, has halted all services involving the National Settlement Depository (NSD) after it was included in a new US sanctions list on June 12. This suspension affects the unlocking of assets frozen since spring 2022 for 5 million Russians. Euroclear is analyzing the impact of the new sanctions on internal free-of-payment settlements for local Russian securities. The NSD's inclusion under sanctions has halted the execution of licenses obtained by Russians for unlocking assets. Euroclear, which facilitates securities settlements, stopped automatic processing of all operations with Russians after the start of the Special Voluntary Disclosure Program. Investors have filed lawsuits against Euroclear and other depositories that froze Russian assets since fall 2022. As of the end of March 2024, Euroclear Bank's balance stood at 199 billion euros, with 159 billion euros in Russian assets under sanctions. Stay updated with our Telegram channel for the latest news and events.
Euroclear Suspends Asset Unlocking for Russians Due to US Sanctions
Euroclear, a Belgian depository, has halted all services involving the National Settlement Depository (NSD) after it was included in a new US sanctions list on June 12. This suspension affects the unlocking of assets frozen since spring 2022 for 5 million Russians. Euroclear is analyzing the impact of the new sanctions on internal free-of-payment settlements for local Russian securities. The NSD's inclusion under sanctions has halted the execution of licenses obtained by Russians for unlocking assets. Euroclear, which facilitates securities settlements, stopped automatic processing of all operations with Russians after the start of the Special Voluntary Disclosure Program. Investors have filed lawsuits against Euroclear and other depositories that froze Russian assets since fall 2022. As of the end of March 2024, Euroclear Bank's balance stood at 199 billion euros, with 159 billion euros in Russian assets under sanctions. Stay updated with our Telegram channel for the latest news and events.