Euroclear has received €1.6 billion in revenue from blocked Russian assets since the beginning of 2024
Kyiv • UNN
Since the beginning of 2024, Euroclear, the European depository, has received €1.6 billion in interest income from more than €200 billion of frozen Russian assets.
The frozen assets of Russia have brought the European depository Euroclear about €1.6 billion in interest income since the beginning of the year. This was reported in an interview with L'Echo by the new head of one of the largest Belgian settlement and clearing systems, Valerie Urban, UNN reports .
Details
The European depository Euroclear earned 1.6 billion euros in interest from more than 200 billion euros held in frozen Russian accounts. This is evidenced by the results of the first quarter of 2024, said Valérie Urbain, CEO of the depository, in an interview with L'Echo newspaper.
For reference
Along with calls for the confiscation of the aggressor country's assets, the EU is discussing the practical level of obtaining revenues from Russia's frozen financial assets.
At the beginning of the year, the Council of the European Union approved a decision to receive income from frozen Russian assets in the EU, which means that they will be kept in special accounts.
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Valerie Urben also reported "more than 100 cases opened in Russian courts". According to Urben, these cases were initiated by Russian institutional investors who are demanding their money back.
A number of law firms are helping us defend ourselves. We continue to fight
Recall
The First Deputy Managing Director of the International Monetary Fund Gita Gopinath spoke about the possible use of Russian assets to support Ukraine, pointing out that it is important for the IMF that any action has a sufficient legal basis and does not undermine the functioning of the international monetary system.
