ECSDA Board agrees to proceed with the termination of membership of its Russian Member

The European Central Securities Depository Association (ECSDA) has closely monitored the situation in Ukraine and the global response to it. The Association acknowledges the strong measures that are taken by the European Union and its allies following the invasion of Ukraine led by the Russian and Belarus regimes.

On that basis, the ECSDA Board feels obliged to react to the situation in line with the EU and international stance on the topic. Due to the circumstances, the Board decided that the ECSDA General Meeting on 9 March 2022 will vote on the termination of membership of its Russian Member, the National Settlement Depositary. Ahead of the vote, ECSDA suspends the participation of the representatives of its Russian member in all working groups.

ECSDA will be carefully watching the evolution of the situation. We hope for the quickest reestablishment of  peace in the region! Our thoughts are with all the civilians affected by the military invasion in Ukraine and those suffering from the regimes in Russia and Belarus.