Euroclear starts converting ruble accounts into euros ...News

Russia Today - News
Euroclear starts converting ruble accounts into euros
source : Russia Today ( News ) () 21
The move will hamper non-sanctioned Russian investors from accessing their funds blocked in Western depositories Euroclear, the EU’s leading securities transactions company, began converting ruble balances into euros on Wednesday, without the consent of account holders. The Belgium-based clearing house has decided to completely remove the Russian ruble as a settlement currency due to sanctions, further limiting Russian investors’ access to their frozen assets. Euroclear settles securities trades on European exchanges, and serves as a central securities depository for financial institutions operating in Europe. The

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