The Depository of Kazakhstan has asked its clients to stop transactions with Russian securities

10:35; 11 July 2024 year

"lt;p>The Kazakh depository, after the introduction of blocking US sanctions against the National Settlement Depository (NSD), called on customers to withdraw Russian securities from its circuit. This is reported by the publication «Kommersant ». This must be done by August 1 of this year.

The Central Securities Depository of Kazakhstan has notified its clients that they need to conduct transactions with the participation of JSC "National Settlement Depository" by August 1, 2024, which are common and necessary for the alienation of debt or shares in favor of persons who are not U.S. persons and are not included in the list of blocking U.S. sanctions.

The terms indicated by the Kazakh depository are related to the general license of the Office of Foreign Assets Control of the US Treasury (OFAC), which was issued after the introduction of blocking sanctions against the Moscow Stock Exchange and its structures, including JSCNSD».

The exact amount of Russian securities that may be held in Kazakhstan is unknown. But local regulators and the Central Securities Depository itself gave a number of assessments in this regard. From March to December 1, 2022, Kazakh brokers carried out transactions with Russian OFZs totaling 641.1 billion tenge or 1.4 billion dollars.

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