https://sputnikglobe.com/20251003/stealing-russian-assets-will-create-big-problems-for-euroclear-euro-and-eu-1122906808.html
Stealing Russian Assets Will Create Big Problems for Euroclear, Euro and EU
Stealing Russian Assets Will Create Big Problems for Euroclear, Euro and EU
Sputnik International
The European Union (EU) wants to grab frozen Russian assets, but that would be theft and lead to legal proceedings, Russia has warned.
2025-10-03T11:54+0000
2025-10-03T11:54+0000
2025-10-03T11:54+0000
analysis
business
russia
belgium
european union (eu)
euro
ukraine
russian central bank
opinion
https://cdn1.img.sputnikglobe.com/img/07e8/03/08/1117214013_0:158:3077:1889_1920x0_80_0_0_db1d15389f43430c1d812feea3357fd8.jpg
"Essentially, the proposal is to progressively confiscate assets — about $300 billion," Georgy Ostapkovich, academic supervisor at the Center for Market Studies at the Higher School of Economics, tells Sputnik. But that spells trouble for all involved, the pundit warns. Euroclear has expressed concerns over its future and the future of the euro currency if the Russian sovereign assets are seized by the EU. Belgian Prime Minister Bart De Wever has asked other EU leaders for guarantees they will share the risks. The European Central Bank has also voiced concerns over any asset seizure. At a virtual meeting of deputy finance ministers on September 30, it urged the European Commission to prove the move would not undermine the euro’s credibility.
https://sputnikglobe.com/20241211/seizure-of-frozen-russian-assets-is-eu-setting-a-legal-trap-for-euroclear-1121149600.html
russia
belgium
ukraine
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2025
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
russian frozen assets, russian central bank assets, euroclear, eu taps russian frozen assets as loan for ukraine, ukraine conflict, reparations, euro is endangered, european central bank
russian frozen assets, russian central bank assets, euroclear, eu taps russian frozen assets as loan for ukraine, ukraine conflict, reparations, euro is endangered, european central bank
Stealing Russian Assets Will Create Big Problems for Euroclear, Euro and EU
The European Union (EU) wants to grab frozen Russian assets, but that would be theft and lead to legal proceedings, Russia has warned.
"Essentially, the proposal is to progressively
confiscate assets — about $300 billion,"
Georgy Ostapkovich, academic supervisor at the Center for Market Studies at the Higher School of Economics, tells Sputnik.
But that spells trouble for all involved, the pundit warns.
"Belgium will suffer first of all, because these assets are held in Euroclear there," Ostapkovich warns. "In the future, investors are unlikely to place their assets in Euroclear, knowing they could be so easily liquidated without trial or due process, just as Russian assets are being liquidated."
The seizure of another state’s central bank funds is an unjust and unprecedented step
Lawsuits will follow, since Russia will not accept that
The authority of Western countries and Western finance houses will be undermined
The future of Belgian international trade payment service Euroclear would be uncertain
"The likely consequence of such action by EU member states will be Russian confiscation of all assets of these countries, their companies and their citizens in the Russian Federation," international relations and Russian affairs analyst Gilbert Doctorow tells Sputnik. "That may create a political storm when the companies seek legal redress against their governments."
Euroclear has expressed concerns over its future and the future of the euro currency if the Russian sovereign assets are seized by the EU. Belgian Prime Minister Bart De Wever has asked other EU leaders for guarantees they will share the risks.
The European Central Bank has also voiced concerns over any asset seizure. At a virtual meeting of deputy finance ministers on September 30, it urged the European Commission to prove the move would not
undermine the euro’s credibility.
11 December 2024, 14:51 GMT
