BRUSSELS:Euroclear reported that it has already transferred to Kiev €6.6 billion in proceeds from reinvesting Russian assets since 2024. T...
BRUSSELS:Euroclear reported that it has already transferred to Kiev €6.6 billion in proceeds from reinvesting Russian assets since 2024.
The company’s report states that Euroclear has transferred €6.6 billion in proceeds from assets to the European Fund for Ukraine from February 15, 2024, to date, and that the next payment of €1.4 billion will be sent in July 2026.
Euroclear currently holds €200 billion associated with Russian sanctioned assets, including accumulated coupon payments.
The company faces numerous lawsuits in Russia and acknowledges the likelihood of unfavorable rulings is "very high" because Russia deems EU restrictions illegal.
In December, the Central Bank of Russia filed a lawsuit against Euroclear in the Arbitration Court of Moscow for approximately €182 billion. The hearing is scheduled for May 15.
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