MOSCOW, July 12 (Reuters) - One of Russia's oldest asset managers, First AM, has filed a claim for 184.8 billion roubles ($2.04 billion) with the Moscow Arbitration Court against Euroclear Bank, court documents showed, trying to protect investors whose assets were frozen.
Sanctions on Russia's National Settlement Depository (NSD), as well as other Western measures aimed at restricting Russia's access to global financial infrastructure, have blocked many Russian investors' access to securities held in jurisdictions outside Russia.
First AM, formerly known as Sber Asset Management, had 1.44 trillion roubles in assets under management as of September 2022.
In 2022, it blocked Russian investors' operations on assets which were accounted for in the NSD account."
Late last year, First AM applied to European authorities to unblock its assets at Euroclear and Clearstream.
Persons:
Euroclear, Elena Fabrichnaya, Alexander Marrow, Sharon Singleton
Organizations:
Court, Euroclear Bank, Settlement Depository, Asset Management, Reuters, NSD, European Union, Thomson
Locations:
MOSCOW, Moscow, Russia, European, Belgium, Kremlin, Euroclear, Luxembourg