Euroclear Warns Europe Against Allocating Russian Assets to Ukraine

According to the English section of webangah News Agency, citing Mehr News Agency, Valéry Urbin, CEO of Belgium-based Euroclear, stated that if the European Union or ‌the European Commission orders the seizure of‌ frozen Russian assets, Euroclear ​is prepared​ to challenge ​such​ a decision in court.

In an interview with French newspaper Le Monde, he cautioned that directly ​or indirectly seizing these assets could harm the ‌entire eurozone.

The head of this global financial institution said various countries ​have ⁤expressed ⁢concerns regarding the confiscation of Russian assets. He added that if Moscow’s frozen ⁢funds are used to finance Ukraine, international investors might reduce their ‍investments in the eurozone.

Russian assets worth​ €193 billion are currently frozen in​ Euroclear’s accounts. However, this amount represents only‌ a very small fraction of its total managed ⁤assets, which stand at €42.5 trillion.

Euroclear is⁢ a major⁢ financial services company headquartered in Brussels.‍ It operates as one ⁤of ⁢the world’s leading securities ‍depositories and clearing systems alongside ⁣Clearstream and plays a critical role in maintaining stability across european financial markets.