The European Union is exploring options to use frozen Russian assets to support Ukraine during the war and after it ends. One proposal under discussion would transfer these frozen assets from the jurisdiction of individual countries to a special EU-level management instrument. The move aims to address the main risk facing the Euroclear depository: potential lawsuits and retaliatory measures from Russia. Hugo Dixon, a political commentator and one of the initiative’s authors, discussed the plan at an event at the European Policy Centre in Brussels focused on future options for financing Ukraine, according to reports . Dixon said the proposal would see Russian Central Bank assets transferred not only from Belgium’s Euroclear, but also from Luxembourg-based Clearstream and other European institutions. Along with the assets, the EU would assume obligations to Russia, while Russia’s formal claim to ownership would remain intact for now. If Russia were to file lawsuits, the EU—not Belgium or individual depositories—would be responsible for the assets and related obligations. Brussels would also be expected to give Euroclear and other depositories legal and financial protection. Dixon said the funds are not expected to be transferred directly to Ukraine in the immediate term. Instead, a specific legal and financial framework would first need to be established before any Russian money could be used for Ukraine’s benefit. The initiative has already received backing from several EU countries and some members of the European Parliament. Its authors also propose eventually involving the United Kingdom, Canada, and Japan in the plan. Ukraine has said it faces a $27 billion budget shortfall this year, and the gap could grow even larger next year. However, that figure has not been confirmed by the International Monetary Fund or other international donors. The New York Times reported that European officials did not anticipate such a large shortfall and are now questioning both the effectiveness of Ukraine’s spending and the country’s stated funding needs.

The European Union is exploring options to use frozen Russian assets to support Ukraine during the war and after it ends. One proposal under discussion would transfer these frozen assets from the jurisdiction of individual countries to a special EU-level management instrument. The move aims to address the main risk facing the Euroclear depository: potential lawsuits and retaliatory measures from Russia. Hugo Dixon, a political commentator and one of the initiative’s authors, discussed the plan at an event at the European Policy Centre in Brussels focused on future options for financing Ukraine, according to reports . Dixon said the proposal would see Russian Central Bank assets transferred not only from Belgium’s Euroclear, but also from Luxembourg-based Clearstream and other European institutions. Along with the assets, the EU would assume obligations to Russia, while Russia’s formal claim to ownership would remain intact for now. If Russia were to file lawsuits, the EU—not Belgium or individual depositories—would be responsible for the assets and related obligations. Brussels would also be expected to give Euroclear and other depositories legal and financial protection. Dixon said the funds are not expected to be transferred directly to Ukraine in the immediate term. Instead, a specific legal and financial framework would first need to be established before any Russian money could be used for Ukraine’s benefit. The initiative has already received backing from several EU countries and some members of the European Parliament. Its authors also propose eventually involving the United Kingdom, Canada, and Japan in the plan. Ukraine has said it faces a $27 billion budget shortfall this year, and the gap could grow even larger next year. However, that figure has not been confirmed by the International Monetary Fund or other international donors. The New York Times reported that European officials did not anticipate such a large shortfall and are now questioning both the effectiveness of Ukraine’s spending and the country’s stated funding needs.

The European Union is exploring options to use frozen Russian assets to support Ukraine during the war and after it ends. One proposal under discussion would transfer these frozen assets from the jurisdiction of individual countries to a special EU-level management instrument. The move aims to address the main risk facing the Euroclear depository: potential lawsuits and retaliatory measures from Russia. Hugo Dixon, a political commentator and one of the initiative’s authors, discussed the plan at an event at the European Policy Centre in Brussels focused on future options for financing Ukraine, according to reports. Dixon said the proposal would see Russian Central Bank assets transferred not only from Belgium’s Euroclear, but also from Luxembourg-based Clearstream and other European institutions. Along with the assets, the EU would assume obligations to Russia, while Russia’s formal claim to ownership would remain intact for now. If Russia were to file lawsuits, the EU—not Belgium or individual depositories—would be responsible for the assets and related obligations. Brussels would also be expected to give Euroclear and other depositories legal and financial protection. Dixon said the funds are not expected to be transferred directly to Ukraine in the immediate term. Instead, a specific legal and financial framework would first need to be established before any Russian money could be used for Ukraine’s benefit. The initiative has already received backing from several EU countries and some members of the European Parliament. Its authors also propose eventually involving the United Kingdom, Canada, and Japan in the plan. Ukraine has said it faces a $27 billion budget shortfall this year, and the gap could grow even larger next year. However, that figure has not been confirmed by the International Monetary Fund or other international donors. The New York Times reported that European officials did not anticipate such a large shortfall and are now questioning both the effectiveness of Ukraine’s spending and the country’s stated funding needs.

Op een kantoor in hartje Brussel, enkele straten van het Europese kwartier, ligt een van de grootste oorlogsbuiten van deze tijd: zo'n 190 miljard euro aan bevroren Russische tegoeden, beheerd door het Belgische effectendepot Euroclear.

De Europese Unie kan met een verordening de tegoeden van Rusland weghalen bij Euroclear in Brussel en zelf beheren. Voor België verdwijnt zo elk risico op miljardenclaims vanuit Moskou. Dat staat in '...

De Europese Unie kan met een verordening de tegoeden van Rusland weghalen bij Euroclear in Brussel en zelf beheren. Voor België verdwijnt zo elk risico op miljardenclaims vanuit Moskou. Dat staat in '...

De Europese Unie kan met een verordening de tegoeden van Rusland weghalen bij Euroclear in Brussel en zelf beheren. Voor België verdwijnt zo elk risico op miljardenclaims vanuit Moskou. Dat staat in '...

De Europese Unie kan met een verordening de tegoeden van Rusland weghalen bij Euroclear in Brussel en zelf beheren. Voor België verdwijnt zo elk risico op miljardenclaims vanuit Moskou. Dat staat in '...

De Europese Unie kan met een verordening de tegoeden van Rusland weghalen bij Euroclear in Brussel en zelf beheren. Voor België verdwijnt zo elk risico op miljardenclaims vanuit Moskou. Dat staat in '...

De Europese Unie kan met een verordening de tegoeden van Rusland weghalen bij Euroclear in Brussel en zelf beheren. Voor België verdwijnt zo elk risico op miljardenclaims vanuit Moskou. Dat staat in 'The Russian Transfer', een voorstel van denktank European Policy Center om het heikele dossier vlot te krijgen. Niet iedereen ziet heil in het idee.

De Europese Unie kan met een verordening de tegoeden van Rusland weghalen bij Euroclear in Brussel en zelf beheren. Voor België verdwijnt zo elk risico op miljardenclaims vanuit Moskou. Dat staat in '...

Selon un décret du président Vladimir Poutine publié lundi, la totalité de ces actifs a été transférée sous «administration temporaire» à la société russe «UK Torg Rus».

Achter beveiligde deuren en diep onder de grond leidt Robert Brovdi (51), alias Magyar, de Oekraïense droneoorlog. In een exclusief gesprek met VRT NWS vertelt hij waarom België veel kwetsbaarder is d...

Achter beveiligde deuren en diep onder de grond leidt Robert Brovdi (51), alias Magyar, de Oekraïense droneoorlog. In een exclusief gesprek met VRT NWS vertelt hij waarom België veel kwetsbaarder is dan het denkt, van de drones boven onze bases tot het Russische geld bij Euroclear.

Standard Chartered is the first G-SIB and first UK issuer to place digitally native notes on Euroclear’s regulated distributed-ledger infrastructure.