Finance

Clearstream resumes conversion of Russian depositary receipts

Clearstream Banking will resume executing instructions for the conversion of depositary receipts for Russian stocks from October 7. The company also reminded that it has extended the cancellation of commissions for transactions for the transfer of assets until December 31.

Such a measure was necessary to evade the EU sanctions and to be able to transfer the securities. Citibank, acting as an agent for DR-programs of a number of Russian issuers, this week announced the opening of books for conversion of receipts of En+, PhosAgro, Tatneft, Rostelecom, Lukoil.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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