LEAVITT: $3b is still a lot of money
This is the first instance of direct redistribution of Russian frozen funds to offset Western investor losses.
This is the first instance of direct redistribution of Russian frozen funds to offset Western investor losses.
Russia's Central Bank has filed a lawsuit seeking $229 billion in damages from Euroclear, escalating Moscow's dispute with the Belgian securities depository as the EU considers using frozen Russian assets to support Ukraine.
Russia's Central Bank has filed a lawsuit seeking $229 billion in damages from Euroclear, escalating Moscow's dispute with the Belgian securities depository as the EU considers using frozen Russian assets to support Ukraine.
The Central Bank of Russia is filing a lawsuit against the Belgian depository Euroclear in the Moscow Arbitration Court.
The Central Bank of Russia is filing a lawsuit against the Belgian depository Euroclear in the Moscow Arbitration Court.
Most of the frozen Russian assets held in the Belgian depository Euroclear will be used to purchase interest-free EU bonds. The proceeds will be transferred to Ukraine in tranches.
Most of the frozen Russian assets held in the Belgian depository Euroclear will be used to purchase interest-free EU bonds. The proceeds will be transferred to Ukraine in tranches.
Who ever thought that would be a comparison.
apnews.com/article/russ...
Who ever thought that would be a comparison.
apnews.com/article/russ...
www.kommersant.ru/doc/8741446
www.kommersant.ru/doc/8741446
www.euroclear.com/newsandinsig...
www.euroclear.com/newsandinsig...
The Moscow Arbitration Court fully upheld the Central Bank's claim against the Belgian Euroclear for €200 billion. That's approximately 18.2 trillion rubles.
The Moscow Arbitration Court fully upheld the Central Bank's claim against the Belgian Euroclear for €200 billion. That's approximately 18.2 trillion rubles.
This is just 1% of the frozen assets the Euroclear could seize.
A free thread from Beefy 👇
open.substack.com/pub/beefeate...
This is just 1% of the frozen assets the Euroclear could seize.
A free thread from Beefy 👇
open.substack.com/pub/beefeate...
Belgium asked for sweeping guarantees in return.
Belgium asked for sweeping guarantees in return.
‼️ The money will be used to compensate Western investors.
‼️ The money will be used to compensate Western investors.
But under the new EU plan, Euroclear will be able to "offset" the losses with the €30 billion that its Russian counterpart, the National Settlement Depository (NSD), has on EU soil.
The lawsuit is filed at the Arbitration Court of Moscow.
But under the new EU plan, Euroclear will be able to "offset" the losses with the €30 billion that its Russian counterpart, the National Settlement Depository (NSD), has on EU soil.
Brilliant news! For the first time, Russian CAPITAL, not just the INTEREST, has been seized!
www.facebook.com/BoycottRussi...
Brilliant news! For the first time, Russian CAPITAL, not just the INTEREST, has been seized!
www.facebook.com/BoycottRussi...
www.politico.eu/article/comm...
www.politico.eu/article/comm...
About €190bn in Russian sovereign assets held at Euroclear were frozen.
About €190bn in Russian sovereign assets held at Euroclear were frozen.