Media: Belgian depository eases rules for holders of Russian securities

Belgian depository Euroclear has eased payment rules related to frozen Russian securities, Bloomberg reported, citing an anonymous source.

According to the source, Euroclear approved certain transactions benefiting foreign investors who are not US citizens without requiring permission from the US Treasury’s Office of Foreign Assets Control (OFAC). The change followed consultations with relevant authorities.

Lawyers Gleb Boyko from Moscow-based NSP law firm and Roeland Moeyersons from Brussels, a European sanctions law specialist, told Bloomberg that Euroclear had informed them of the new approach, with clarifications provided at the end of 2025. Both lawyers represented clients seeking to reclaim funds frozen by the depository.

With the US permission requirement removed in some cases, lawyers expect more investors to demand the return of funds accumulated over four years of Russia’s military operations in Ukraine, Bloomberg reported.