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Kazakhstan has asked the owners of Russian securities to withdraw them from the country

Photo: pch.vector / ru.freepik.com

The Central Securities Depository of Kazakhstan (KCSD) announced the need to withdraw Russian securities from its contents. This is reported by informburo.kz .

According to the portal, KCSD asked clients to send orders for the withdrawal of Russian securities from its nominal holding by August 1, 2024. Responding to the relevant request, the institution confirmed the sending of the letter, but the deadline was specified until August 10.

"The letter sent to the Central Securities Depository to individual depositors is due to the introduction of blocking US sanctions against the National Settlement Depository of the Russian Federation. The letter specifies the deadline until August 10. It was established due to the fact that the Central Securities Depository itself requires time to receive and process instructions from customers," the response message says.

KCSD added that in the letter they notified clients in advance of possible restrictions and difficulties in executing orders on securities with RU ISINs (the paper was issued in Russia) after the specified date. They also clarified that when processing instructions from clients, the Central Securities Depository will consider the possibility of their execution from the point of view of assessing the risks and consequences that may arise as a result of the execution of these instructions for the depository.

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