Current status on our link with Russia

As the situation with our link to the Russian market evolves quickly, we are informing clients of the latest developments by Newsletter and Newsflash. Below, we summarise what we have communicated to date.

We have withdrawn the acceptance of the Russian ruble (RUB) as a settlement currency (i.e. you cannot settle against RUB in the Euroclear system anymore) and disabled our account with ING Bank, our Cash Correspondent in Moscow pursuant to Section 5.4.2.1 of the Operating Procedures of the Euroclear System. To view this document use your MyEuroclear login.

Therefore, clients are no longer allowed to transfer any RUB to ING Bank, our Cash Correspondent in Moscow (in favour of your Euroclear Bank account).

Clarification 16 March 2022 - we have been informed by ING Bank that wire transfers from Euroclear Bank clients to wire RUB out of the Euroclear system:

• if the final beneficiary account specified in the wire transfer is in Russia, the payment instruction will be executed
• if the final beneficiary account specified in the wire transfer is outside Russia, the payment instruction will not be executed

ING Bank Moscow is clarifying the situation with the Central Bank of the Russian Federation and will let us know if there are any changes to the above situation.

We remind you that you need to enter a valid INN or KIO code (tax id) in your wire transfer instructions. Please refer to RUB - Money transfer webpage for more details.  To view this information, use your MyEuroclear login.  

All securities issued by entities incorporated in the Russian Federation have been excluded from all Triparty transactions. For more details, please refer to our Newsflash published on 24 February 2022 by using your MyEuroclear login details.

Update 22 August 2022 - Dividend payments - Further to our Newsflash published on 12 August 2022, mentioning that we will support the disclosure process set out under the Central Bank resolution for the distribution of dividend payments on Russian shares in accordance with the authorisation received from our competent authority, you can now find answers to your questions in our new Disclosure process on Russian shares - FAQ webpage.

Fund management companies (FMCs) and transfer agents (TAs) are generating an increasing number of requests for information on ultimate beneficial owners (natural persons residing in Russia/Belarus or to all legal persons, entities or bodies established in Russia/Belarus).

Please refer to Newsletter 2022-FS-001 for more information.

√ = eligible for settlement, provided that the security and/or your counterparty is not an ISIN/entity subject to Sanctions or restrictions under Regulation (EU) 833/2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine (‘the Regulation’), as amended by Council Regulation (EU) 2022/328 of 25 February 2022 

X = settlement not possible until further noticed

Last updated: 3 March 2022

We confirm that we still allow the settlement of internal, Bridge and external transactions in eligible Global Depository Receipts (GDRs) and American Depository Receipts (ADRs) until further notice.

Reminder - if you are trading GDRs or ADRs over the Bridge with Clearstream Banking Luxembourg or with the local market, you should take into consideration all communications issued and measures taken by the respective (counterparty) custodian and depository banks.

We continue to closely monitor GDRs and ADRs for compliance with Sanctions.

We remind you that our Participants are expected to comply with all relevant regulatory and legal obligations related to Sanctions in application of, among others, Article 15 of the Terms and Conditions governing use of Euroclear. To view this  information use your MyEuroclear login.

As of the end of the day on Tuesday, 24 May 2022, Bridge settlement is suspended temporarily for the four ISINs listed in the table below until further notice.

As of the end of the day on Friday, 5 August 2022, Bridge and external settlement is suspended for the ISIN listed in the table below until further notice.
 

Certain securities that were previously blocked for settlement in Euroclear Bank due to Sanctions against Russia will be unblocked. You should ensure compliance with all applicable Sanctions for all new and pending instructions.

Please refer to Newsletter 2022-N-021 for more details.

• Newsflash - Cancellation of Depository Receipts with Russian underlying securities - Extension of fee waiver - Update (Published 3 October 2022) - To view this information use your MyEuroclear login
• Newsflash - Russia - Update on forced transfer of securities due to Federal Law No. 319 - Action to take before 11 October 2022 (Published 30 September 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Russia - Central Bank of the Russian Federation resolution on dividend payments - Update (Published 29 September 2022) - To view this information use your MyEuroclear login
• Newsflash - Russia - Presidential Decree No. 529 (Published 22 September 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Russia - New Law on transfer of securities (Published 20 September 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Russia - Central Bank of the Russian Federation resolution on dividend payments - Update (Published 20 September 2022) - To view this information use your MyEuroclear login
  
• Newsletter 2022-N-073 - U.S. OFAC Sanctions against Russia - General License 48A (Published 19 September 2022)
  
• Newsflash - Russia - Bridge settlement to temporarily re-open for certain Russian Federation Eurobonds to support CDS auction - Update (Published 2 September 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Russia - Bridge settlement to temporarily re-open for certain Russian Federation Eurobonds to support CDS auction (Published 1 September 2022) - To view this information use your MyEuroclear login
• Newsflash - U.S. OFAC Sanctions against Russia - General License expiry - Updated securities list - 31 August 2022 (Published 31 August 2022) - To view this information use your MyEuroclear login
  
• Newsletter 2022-N-069 - U.S. OFAC Sanctions against Russia - General License 43A (Published 30 August 2022)
  
• Newsletter 2022-N-067 - Discontinuation of tax services for certain securities issued by Russian issuers (Published 25 August 2022)
  
• Newsflash - Russia - New mechanism for Depository Receipt conversions into underlying Russian shares (Published 23 August 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Newsflash - Russia - Central Bank of the Russian Federation resolution on dividend payments - Now available: Disclosure process on Russian shares FAQ (Published 22 August 2022) - To view this information use your MyEuroclear login
• Newsflash - Cancellation of Depository Receipts with Russian underlying securities - Citibank and BNY Mellon as DR agents - Update (Published 17 August 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Russia - Central Bank of the Russian Federation resolution on dividend payments - Update (Published 12 August 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Newsflash - Cancellation of Depository Receipts with Russian underlying securities - Extension of fee waiver - Update (Published 11 August 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Cancellation of Depository Receipts with Russian underlying securities - Citibank as DR agent - Update (Published 10 August 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Cancellation of Depository Receipts with Russian underlying securities - Deutsche Bank as DR agent - Update (Published 9 August 2022) - To view this information use your MyEuroclear login
• Newsflash - Cancellation of Depository Receipts with Russian underlying securities - Update (Published 27 July 2022) - To view this information use your MyEuroclear login
• Newsflash - Russia - Central Bank of the Russian Federation Resolution on dividend payments - Update (Published 27 July 2022) - To view this information use your MyEuroclear login
• Newsflash - Cancellation of Depository Receipts with Russian underlying securities - Update (Published 14 July 2022) - To view this information use your MyEuroclear login
• Newsflash - Russia - Ministry of Finance clarification of Euroclear Bank's status with NSD as depositary (Issuer CSD) in Russia (Published 8 July 2022) - To view this information use your MyEuroclear login
  
• Newsletter 2022-N-059 - Russia - New RBK cash sub-accounts (Published 7 July 2022)
• Newsflash - Russia - Central Bank of the Russian Federation Resolution on dividend payments (Published 5 July 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Russia - New Presidential Decree No. 394 (Published 28 June 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Cancellation of Depository Receipts with Russian underlying securities - Update (Published 14 June 2022) - To view this information use your MyEuroclear login
  
• Newsflash - Russia - Settlement instructions with NSD as a counterparty in Euroclear Bank - Update (Published 9 June 2022) - To view this information use your MyEuroclear login.
• Newsflash - Sanctions against Russia and Belarus - Holdings on behalf of Russian and/or Belarusian Persons (Published 3 June 2022) - To view this information use your MyEuroclear login.
• Newsflash - Cancellation of Sberbank Depository Receipts (Published 1 June 2022) - To view this information use your MyEuroclear login.
  
• Newsletter 2022-FS-001 - Sanctions against Russia and Belarus - Important information for FundSettle clients (Published 13 May 2022)
• Newsletter 2022-N-036 - Amendment to Terms and Conditions governing use of Euroclear (Published 28 April 2022)
• Newsflash - New Russian Federal Law n°114 - Impact on Depositary Receipts with Russian underlying securities (Published 27 April 2022) - To view this information use your MyEuroclear login.
  
• Newsletter 2022-N-033 - RUB cash payments on Russian domestic securities (Published 25 April 2022)
• Newsletter 2022-N-032 - Depository Receipts with underlying Russian securities - Opening of books for DR programs sponsored by Deutsche Bank (Published 22 April 2022)
• Newsletter 2022-N-030 - Depository Receipts with underlying Russian securities - Opening of books for DR programs sponsored by Citibank, N.A. (Published 7 April 2022)
• Newsletter 2022-N-029 - Depository Receipts with Russian underlying securities - Opening of books for DR programs sponsored by J.P. Morgan (Published 6 April 2022)
• Newsletter 2022-N-023 - Settlement with Russian counterparties: MT 599 attestation requirement - Update (Published 30 March 2022)
• Newsletter 2022-N-028 - Depository Receipts with Russian underlying securities - Conditional opening of books for DR programs sponsored by BNY Mellon (Published 30 March 2022)
• Newsflash - RUB cash payments on Russian domestic securities deposited with the National Settlement Depository (Published 30 March 2022) - To view this information use your MyEuroclear login.
• Newsflash - Russia - Mandatory corporate actions on Russian domestic securities deposited in the National Settlement Depository (Published 24 March 2022) - To view this information use your MyEuroclear login.
  
• Newsflash - Russia - Settlement instructions with NSD as a counterparty in Euroclear Bank - To view this information use your MyEuroclear login.
  
• Newsletter 2022-N-021: Securities subject to Sanctions against Russia - Updated (Published 18 March 2022)
• Newsflash - Russia - Presidential Decrees No. 81 and No. 95 - Update (Published 16 March 2022) - To view this information use your MyEuroclear login.
• Newsflash - Russia - Presidential Decrees No. 81 and No. 95 (Published 9 March 2022) - To view this information use your MyEuroclear login.
  
• Newsletter 2022-N-023 - Settlement with Russian counterparties: MT 599 attestation requirement (Published 8 March 2022)
• Newsletter 2022-N-022: Russia - Settlement update (Published 4 March 2022)
• Newsflash - Depository Receipts with Russian underlying securities (Published 3 March) - To view this  information use your MyEuroclear login.
• Newsletter 2022-N-021: Securities subject to Sanctions against Russia (Published 2 March 2022)
• Newsletter 2022-N-020: Depository Receipts with Russian underlying securities: Exchanges no longer possible (Published 1 March 2022)
  
• Newsletter 2022-N-019: Central bank measures: Impact on our link with the Russian market (Published 28 February 2022 and updated 2 March 2022)
  
• Newsletter 2022-N-018: Update on our link with Russia (Published 28 February 2022)
• Newsletter 2022-N-16: Impact of UK and US Sanctions on our link with Russia (Published 25 February 2022)
  
• Newsflash - Collateral Management - Exclusion of all securities issued by entities incorporated in the Russian Federation from all Triparty transactions with immediate effect. To view this  information use your MyEuroclear login.