April 9, 2018 / 2:40 PM / 6 months ago

Euroclear 'taking steps' to stay compliant with U.S. sanctions on Russia

LONDON (Reuters) - Euroclear, one of the major international providers of post-trade services, said on Monday it was assessing the latest sanctions imposed on Russia by the U.S. Treasury and was taking steps to ensure it remained compliant.

The new sanctions, published on Friday, target President Vladimir Putin’s inner circle in one of Washington’s most aggressive responses to alleged Russian meddling in the 2016 U.S. election so far.

“We are assessing the new sanctions issued by ( U.S. Treasury Department’s Office of Foreign Assets Control) to ensure that we remain fully compliant with the requirements and naturally are taking appropriate steps,” Euroclear said in a statement.

It added that it took very seriously its “responsibility in meeting the legal obligations of the markets we serve.”

It declined to comment on any specific issuer or bond which might have been impacted by the expanded list of U.S. sanctions.

Traders in London said it was difficult to find accurate pricing for many Russian securities on Monday, sparking concerns there were difficulties in international clearing following the sanctions announcement.

Earlier, the other major clearing service Clearstream said it had “adapted” its sanctions compliance programme on Russia, while Marketaxess, one of the world’s biggest multi-dealer platforms, said it had removed the bonds of Rusal, one of the companies subject to the sanctions.

Reporting by Sujata Rao; editing by Mike Dolan

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