The Belgian financial institution Euroclear has initiated a process to release assets of Russian individuals without requiring an American OFAC (Office of Foreign Assets Control) license, according to reports. This development was disclosed on November 1 by a major broker involved in the asset unfreezing procedure.
As confirmed by NSP lawyer Gleb Boyko, three successful cases have already been completed. He noted that the process now only requires a Belgian regulatory approval, whereas previously it necessitated licenses from both European Union and U.S. authorities.
