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Top related persons:
Western - 1 Clearstream - 1 Grzegorz Drozdz - 1 Conotoxia - 1 Alexander Marrow - 1 Sinead Cruise - 1 Emelia Sithole - 1
Top related locs:
Russia Europe
Top related orgs:
Global - 1 Union - 1 Moscow - 1 Deutsche Bank - 1 Deutsche - 1 EU - 1 Clearstream Banking - 1 European Union - 1

Search resuls for: "Clearstream Banking"


2 mentions found


☆ Clearstream suspends processing of new Russian share conversions after EU sanctions
  + stars: | 2023-06-29 | by ( ) www.reuters.com   time to read: +2 min
June 29 (Reuters) - European clearing giant Clearstream has suspended processing new client instructions to convert or cancel their American and Global Depository Receipt holdings in Russian companies after the latest round of European Union sanctions against Moscow. Investors globally are facing challenges in recovering stranded Russian investments in a saga that is spilling over to implicate Western depositories. Deutsche Bank (DBKGn.DE) has told clients it can no longer guarantee full access to Russian stocks that belong to them. Clearstream previously halted DR conversions in June 2022, only to resume processing in October. "The new rules quite strictly limit the conditions for the conversion of Russian securities for residents and citizens of the European Union," Grzegorz Drozdz, market analyst at investment company Conotoxia said.
Persons: Western, Clearstream, Grzegorz Drozdz, Conotoxia, Alexander Marrow, Sinead Cruise, Emelia Sithole Organizations: Global, Union, Moscow, Deutsche Bank, Deutsche, EU, Clearstream Banking, European Union, Thomson Locations: Russia, Europe
☆ U.S. judge orders $1.68 bln payout to families over 1983 Beirut bombing
  + stars: | 2023-03-22 | by ( Jody Godoy | Thomson Reuters | Jody Godoy Reports On Banking | ) www.reuters.com   time to read: +2 min
March 22 (Reuters) - A federal judge in New York ordered Iran's central bank and a European intermediary on Wednesday to pay out $1.68 billion to family members of troops killed in the 1983 car bombing of the U.S. Marine Corps barracks in Lebanon. Victims and their families won a $2.65 billion judgment against Iran in federal court in 2007 over the attack. Six years later, they sought to seize bond proceeds allegedly owned by Bank Markazi and processed by Clearstream to partially satisfy the court judgment. Bank Markazi has argued that the lawsuit was not allowed under the Foreign Sovereign Immunities Act (FSIA), which generally shields foreign governments from liability in U.S. courts. A Luxembourg court in 2021 ordered Clearstream not to move the funds until a court in that country recognizes the U.S. ruling.
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