How is the depository chain in Yandex shares arranged?

Does anyone understand the thread at all, how it owns Yandex shares that are bought on the Mosbirzhe?

By purchasing Yandex shares on MB, your rights are accounted for by NSD. NSD owns a certain number of Yandex shares, let’s say n.
This fact is reflected in the Euroclear record, which sees that NSD, which is under sanctions, owns n-number of shares. So?
Well, then there is some Dutch registry (not to be confused with the Dutch steering wheel).


ps for those who do not know what a “Dutch steering wheel” is, I strongly do not recommend google😄

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