3. Corporate action, dividend & coupon payments
The NSD has banned the payment of any corporate action, dividend or coupon payment to “foreign" investors. Non-Russian holders of Russian stocks face uncertainty on whether they will receive these proceeds.
4. Existing Russian security holdings
Many market participants have had to consider their holdings of Russian securities and divestment since sanctions were applied to Russia. Important considerations in this area include whether divestment is possible and ethical concerns as to who the buyer might be on the other side.
5. Corporate and government bond default
Given the continued uncertainty and Russian CSD announcements, it’s unclear whether Russian corporate or government bonds will honour coupon and/or maturity payments.