Russia: Settlement of USD denominated Russian Sovereign Bonds
In Announcement A22111, Clearstream Banking1 informed customers of settlement arrangements for the settlement of USD-denominated securities issued by the Russian federation and issued in the ICSDs in common global form and issued in the DTCC in 144A form. Clearstream Banking will keep internal settlement open against all eligible currencies until further notice.
The securities in question are:
a. ISINs XS0114288789 and US78307ACZ49 are also eligible on the Bridge.
Clearstream Banking reminds customers of the requirement to comply and ensure compliance by any of the customer’s underlying clients, with any applicable sanctions, including those of the EU, the United States and the United Kingdom.
With effect from
21 October 2022
when instructing receipt of USD-denominated Russian government bonds, customers must provide a representation of sanctions compliance in the narrative field of their instruction (for example, field :70E::SPRO// of the MT54x instruction) or in a separate authenticated message (for example, MT599) referencing the Transaction Reference to allow reconciliation of the representation back to the instruction. The required sanctions representation wording is as follows: “SPRO//EO14071”.
Whenever providing the above wording, the customer is attesting that the transaction would comply with any applicable sanctions, including those of the EU, the United States and the United Kingdom, and in particular, that any buyer of the transaction to be settled by the receive instruction is not a U.S. Person engaged in prohibited new investment.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.