Russia Loses EU Case Aimed at Unblocking Sanctioned €70 Billion
- NSD failed to show EU made an error by decision to target it
- NSD is key part of Russia’s financial market infrastructure
This article is for subscribers only.
Russia’s National Settlement Depository lost a bid to overturn European Union sanctions over its alleged role in helping fund President Vladimir Putin’s invasion of Ukraine.
The Moscow-based institution was hit by EU sanctions in 2022 when the bloc alleged that as the main custodian of Russian securities the body enabled the Russian government to mobilize its resources to support the war effort.