Associates of the VERBA LEGAL Sanctions Practice managed to obtain another Belgian Treasury license to unfreeze assets.

The case specifics is that the license was obtained for the assets of a legal entity following cancellation and revision of the initially issued unlawful decision.

The positive result was obtained after almost a year of the process duration. By now, the VERBA LEGAL sanctions team has obtained more than 40 licenses from the Belgian regulator.

The current situation with unfreezing of the assets blocked in Euroclear and Clearstream is however assessed by VERBA LEGAL experts as moderately positive, as the US and UK sanctions have largely complicated and delayed issuance of licenses to all the applicants.

The project team consisted of Managing Partner Tatyana Neveeva, Senior Associate Nikita Zhemchugov and Junior Associate Tatiana Zelenovskaya.