Clients of one of the largest banks in the UAE, who faced asset freezes due to European sanctions, were able to withdraw a portion of them.
A number of Russian investors have managed to unlock a portion of their assets held in investment accounts at Emirates NBD (the second largest bank in the UAE). This includes securities of American issuers and a portion of the funds deposited in investment accounts at ENBD. However, access to European securities and payments related to them (such as coupons, dividends, and repayments) remains restricted.
Tamrin Darbakov, a junior associate at UPPERCASE LEGAL, confirmed that several clients were able to unlock funds in their investment accounts by obtaining licenses from European regulators.
Tamrin Darbakov, a junior associate at UPPERCASE LEGAL, confirmed that several clients were able to unlock funds in their investment accounts by obtaining licenses from European regulators.
Read the full article at the link.