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Confiscating Russian sovereign assets sets a destabilizing precedent for Western countries to seize assets to end a war they are not openly involved in. These funds function as leverage in negotiations, and removing them increases the risk of escalation and retaliation. This directly undermines President Trump’s diplomatic efforts to...

66,816 views • 7 months ago •via X (Twitter)

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🌐🇧🇪Euroclear CEO warns against using frozen Russian assets to lend to Ukraine. Valérie Urbain, CEO of Belgian depository Euroclear, which manages around €185 billion in frozen Russian state assets, is urging the European Union not to touch them. In a recent interview, she warned that the plan to use the funds as collateral for a loan worth up to €165 billion for the reconstruction of Ukraine could be perceived by Russia as a confiscation, which would trigger legal and economic retaliation. “If Russia perceives this reconstruction loan to Ukraine as a confiscation of its assets, it will not stand idly by. That is why we expect legal action against Euroclear and the possible seizure of assets that we hold on behalf of our clients in Russia,” Urbain said. She added that Russia could seize Belgian assets in Russia in retaliation, which would threaten the stability of the European financial system. Euroclear, a key player in the European financial market, now holds most of the €200 billion in frozen Russian reserves since the 2022 invasion of Ukraine. The EU is already using the profits from these assets to prop up Kiev, but the assets themselves remain untouched. The European Commission is proposing to use them as collateral for a loan that Ukraine would repay from future Russian reparations. Belgium, where Euroclear is based, is the biggest opponent of the plan because of the risks to its economy. Urbain instead proposes using the assets as leverage in peace talks with Russia, and has implicitly ruled out legal action against the EU if the forced transfer were to take place. The European Council is expected to decide on the proposal at a summit on December 18-19.

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35,598 views • 8 months ago