In an interview with the Financial One online magazine for financial markets, Natalia Demina, Partner and Head of Private Wealth practice at Maxima Legal, explained what legal measures could help Russian investors to unblock assets placed with the National Settlement Depository (NSD) that have been "frozen" by EuroClear.
"From a legal point of view, we are working together with our European colleagues who have experience in the relevant sanctions challenge and consider these blockages illegal. Here we are in solidarity with them, because the bulk of the assets are assets of private individuals, ordinary citizens, who illegally suffered losses from late February to June, when there was not even a decision to put NSD on the sanctions list," Natalia Demina stressed.
