MOSCOW, Dec 19 (PRIME) -- SPB Bank, the settlement depository of SPB Exchange, will send a request to the U.S. Office of Foreign Assets Control (OFAC) proposing mechanisms of unblocking assets, including a possibility that the bourse would cease to have a controlling stake in the depository, SPB Exchange said Tuesday.
"SPB Exchange has agreed on a strategy offered by international legal consultants. In accordance with the strategy, SPB Bank… is preparing an official request to the OFAC with a proposal of detailed mechanisms of unblocking the assets: SPB Bank's transfer out of control of the SPB Exchange, which is under sanctions, by cutting the stake of the bourse in the charter capital of the bank," the statement read.
Alternative proposals cover adjustment of the 76A general license and its prolongation, issuance of an OFAC special license allowing the exchange to unblock the assets of the trade participants, issuance of an OFAC general license allowing the exchange to unblock the assets.
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