US Extends License for Operations with Moscow Exchange "
The Treasury announced that the permit extends to dealings with Russia’s National Clearing Center and National Settlement Depository. For further details, read the full article at RT.com
TroibNews 
The US Treasury Department announced on Friday an extension for transactions involving the Moscow Stock Exchange (MOEX) and its subsidiaries until October 12, as per a statement on the department’s website.
On June 12, the US Treasury’s Office of Foreign Assets Control (OFAC) included Russia's MOEX, the National Clearing Center (NCC), and the National Settlement Depository (NSD) on a sanctions list. Subsequently, OFAC issued a license to wrap up operations with these entities by August 13.
“All transactions prohibited by Executive Order (E.O.) 14024 that are ordinarily incident and necessary to the wind down of any transaction involving one or more of the following blocked entities are authorized through 12:01 a.m. eastern daylight time, October 12, 2024,” stated OFAC’s latest communication.
In June, the US government introduced significant sanctions targeting Russia’s financial sector and currency market. Following this, the Moscow Exchange halted trading in US dollars and euros, highlighting the impact on the foreign exchange and precious metals sectors, as well as the stock and currency trading in Russia’s largest public markets. The Moscow Exchange confirmed that all other financial instruments remained active.
The Treasury Department’s decision to extend transaction allowances with the Moscow Exchange could indicate that “some common sense has started to emerge in the minds of American politicians,” Anatoly Aksakov, chairman of the Russian State Duma’s Financial Markets Committee, told Parlamentskaya Gazeta. He noted that while the sanctions “created certain problems for Russia, they could not significantly affect financial processes.”
Aksakov suggested that American officials might be realizing that sanctions against Russia are causing “more harm to the US financial system” and undermining the dollar.
On the same day, the UK’s Office of Financial Sanctions Implementation (OFSI), which oversees the enforcement of sanctions, also announced an extension of its general license. This license now allows for the sale, divestment, or transfer of financial instruments held at the NSD and the payment of safekeeping fees until October 12. Initially, this license was issued on July 3 and was set to expire on August 13.
The UK's move came after it followed the US in sanctioning MOEX, NCC, and NSD on June 13.
Ian Smith contributed to this report for TROIB News
On June 12, the US Treasury’s Office of Foreign Assets Control (OFAC) included Russia's MOEX, the National Clearing Center (NCC), and the National Settlement Depository (NSD) on a sanctions list. Subsequently, OFAC issued a license to wrap up operations with these entities by August 13.
“All transactions prohibited by Executive Order (E.O.) 14024 that are ordinarily incident and necessary to the wind down of any transaction involving one or more of the following blocked entities are authorized through 12:01 a.m. eastern daylight time, October 12, 2024,” stated OFAC’s latest communication.
In June, the US government introduced significant sanctions targeting Russia’s financial sector and currency market. Following this, the Moscow Exchange halted trading in US dollars and euros, highlighting the impact on the foreign exchange and precious metals sectors, as well as the stock and currency trading in Russia’s largest public markets. The Moscow Exchange confirmed that all other financial instruments remained active.
The Treasury Department’s decision to extend transaction allowances with the Moscow Exchange could indicate that “some common sense has started to emerge in the minds of American politicians,” Anatoly Aksakov, chairman of the Russian State Duma’s Financial Markets Committee, told Parlamentskaya Gazeta. He noted that while the sanctions “created certain problems for Russia, they could not significantly affect financial processes.”
Aksakov suggested that American officials might be realizing that sanctions against Russia are causing “more harm to the US financial system” and undermining the dollar.
On the same day, the UK’s Office of Financial Sanctions Implementation (OFSI), which oversees the enforcement of sanctions, also announced an extension of its general license. This license now allows for the sale, divestment, or transfer of financial instruments held at the NSD and the payment of safekeeping fees until October 12. Initially, this license was issued on July 3 and was set to expire on August 13.
The UK's move came after it followed the US in sanctioning MOEX, NCC, and NSD on June 13.
Ian Smith contributed to this report for TROIB News
