Pause operations: company temporarily curtailing operations while keeping return options open

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Clearstream is a financial services company that specializes in the settlement of securities transactions and is owned by Deutsche Börse AG. It provides settlement and custody as well as other related services for securities across all asset classes.

 
 
 

Pause operations: company temporarily curtailing operations while keeping return options open

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Euroclear is trying to undermine the procedure for exchanging Russian Eurobonds from Clearstream for replacement bonds. From Friday 11/08/2023, it stopped transferring a number of Russian corporate Eurobonds to his system, and precisely those that were replacing - Gazprom, Lukoil, Borets, Sovcomflot, as well as preparing them - Polyus and TMK.

The Company Statement
June 29, 2023

Clearstream Banking S.A., Luxembourg (CBL) has fully written off the receivables of the Russian National Settlement Depository (NRD, part of the Moscow Exchange Group) in the amount of EUR 134 million as of December 31, 2022, as CBL no longer expects the repayment of the debt from the NRD, it is stated in annual report of Deutsche Börse Group, which includes Clearstream. Clearstream Banking informs clients holding positions in ADR and GDR programmes with Russian underlying equities that the processing of new instructions to convert voluntarily or to cancel holdings has been suspended until further notice.

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Statements Archive
April 24, 2024Clearstream refused to support the repurchase of blocked securities from the Russians
February 17, 2024The total amount of claims against Euroclear and Clearstream is close to ₽700 billion
February 09, 2024European Depository Clearstream, one of the EU depositories in Polymetal's shareholding chains, has lifted restrictions on the gold miner's securities listed with Citibank Bank UK.
November 17, 2023The CIS countries, at the request of the European Union, introduced special controls over the brokerage accounts of Russians
August 10, 2023Euroclear is trying to undermine the procedure for exchanging Russian Eurobonds from Clearstream for replacement bonds.
July 14, 2023Clearstream threatened clients with blocking Russian Eurobonds
July 14, 2023Europe threatened to block Russian securities
June 28, 2023Russia: Update to the handling of ADR GDR Programmes of Russian underlying equities
February 23, 2023Clearstream writes off NSD's €134m debt
January 26, 2023Update: Securities subject to sanctions against Russia
July 28, 2022Russia: Update on actual DR conversions with Russian underlying securities - Update
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