Following President Biden’s Executive Order from February 24th, 2022 prohibiting U.S. business with Ukraine’s breakaway regions, OFAC has issued Directive 3 under E.O. 14024, imposing blocking sanctions on several securities.
What does this mean?
As of March 26, 2022, our clearing firm, DriveWealth, will make the following securities inactive:
- MBT Mobile TeleSystems PJSC
- OZON Ozon Holdings PLC
- YNDX Yandex NV Common Stock
- ERUS iShares MSCI Russia ETF
- RSX VanEck Russia ETF
This directive prohibits new debt and new equity transactions, which means that these sanctioned securities previously purchased by clients can no longer be purchased or sold.
What this means for you:
Our clearing firm, DriveWealth, can no longer offer opening or closing transactions in these securities. These securities will continue to be held in your account for now.