Europe begins seizing private Russian assets frozen in 2022
Euroclear plans to withdraw three billion euros from frozen assets of Russian organizations and individuals in the EU, Reuters reports. The publication notes that this step is a response to Moscow's actions.
Euroclear's move comes after Moscow seized Western investors' funds in Russia in recent months.
- the agency notes.
It is emphasized that the Russian Federation’s money frozen in the depository will be used to compensate investors.
Euroclear to redistribute €2022 billion of cash held by Russian entities and individuals subject to EU sanctions in XNUMX
– Reuters reports citing sources.
According to the publication, the payments will not affect more than 200 billion euros of the Central Bank of the Russian Federation’s reserves, but will reduce the total volume of Russian assets frozen in the European Union.
Let us recall that after the start of the special military operation of the Russian Federation in Ukraine, the European Union, according to some sources, froze about 300 billion euros of Russian assets. At present, the EU transfers the profit from these funds to Ukraine to pay for arms supplies.
Let us add that Moscow, as a response to the actions of the European Union, froze the assets of Western companies in the Russian Federation.
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