The decision on confiscation of frozen Russian assets will be made in a few weeks
Kyiv • UNN
Euroclear will decide to confiscate 87-89% of the proceeds from frozen Russian assets worth €2-3 billion in the coming weeks.
The Belgian depository Euroclear will decide on the confiscation of frozen Russian assets "in a few weeks," said Valerie Ubren, the new executive director of Euroclear, in an interview with the Belgian newspaper L'Echo, reports UNN.
Details
The decision should be made in the coming weeks. The amount will be in the range of 87% to 89% of all income from Russian assets after tax
According to her, the total amount of income from the blocked assets will be EUR 2-3 billion, depending on interest rates.
Since the beginning of Russia's full-scale war against Ukraine in February 2022, the G7 countries have frozen about €300 billion of Russian foreign exchange reserves. At the same time, about €208 billion is in the European Union, mainly in Euroclear accounts.
According to German Chancellor Olaf Scholz, the EU countries have agreed to transfer 90% of the proceeds from frozen Russian assets to Ukraine.
