• About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, July 19, 2025
  • Login
  • Register
thehopper.news
  • Home
    • Home
    • About
  • Video
    • Discussion
  • Geopolitics
  • Intel & Security
  • Foreign Affairs
  • News
    • All
    • Politics
    • World
    Putin and Trump need to meet – Orban

    Putin and Trump need to meet – Orban

    Brazil’s Lula tells Trump he’s not ‘emperor of the world’

    Brazil’s Lula tells Trump he’s not ‘emperor of the world’

    It’s time, Ukraine: Kiev braces for a final reckoning

    It’s time, Ukraine: Kiev braces for a final reckoning

    US vice president opposes paying for Ukraine – spokesperson

    US vice president opposes paying for Ukraine – spokesperson

    Russian ‘alligator’ obliterates Ukrainian drone (VIDEO)

    Russian ‘alligator’ obliterates Ukrainian drone (VIDEO)

    Israel attacks Catholic Church in Gaza – Vatican

    Israel attacks Catholic Church in Gaza – Vatican

    Inside the mind of America’s most unhinged war salesman

    Inside the mind of America’s most unhinged war salesman

    Coke to swap key ingredient – Trump

    Coke to swap key ingredient – Trump

    EU country moves to sanction Ukrainian military officials

    EU country moves to sanction Ukrainian military officials

    Russian soldier catches Ukrainian drove with bare hands (VIDEO)

No Result
View All Result
thehopper.news
No Result
View All Result
Home News

EU discloses profits from frozen Russian assets

by Admin
May 8, 2024
in News, Politics, World
0
EU discloses profits from frozen Russian assets
27
SHARES
108
VIEWS
Share on FacebookShare on Twitter

Published: May 8, 2024 11:18 am
Author: RT

The G7 has reportedly ruled out the total confiscation of the funds

EU clearinghouse Euroclear accrued €1.6 billion ($1.7 billion) in interest from frozen Russian assets in just three months of this year, its CEO Valerie Urbain has revealed. She warned however, that tapping the funds would have a severe impact on global financial markets.   

The EU is expected to make a decision granting Kiev €2-3 billion in revenue generated by the Russian assets “in the coming weeks,” Urbain said in an interview with the Belgian news outlet L’Echo. Brussels previously suggested seizing the profits to buy weapons for Ukraine rather than using the funds for reconstruction, as had been initially planned.   

Euroclear, a key intermediary on EU financial markets, has over €200 billion in Russian securities blocked in its accounts, according to company data. Over the past year those accounts have accrued nearly €4.4 billion in interest. The windfall tax on the profits is expected to be between 87% and 89%, according to Urbain.  

The seizure of the interest income would raise a “question of legal certainty” and have a “very negative impact” not only on Euroclear, but on financial markets worldwide, she warned.   

Read more

RT
EU suggests new option to tap Russian money – Politico

“If our clients feel that the law is no longer respected and that their assets may be confiscated, this opens a Pandora’s box,” Urbain told L’Echo. “This could lead large international investors to turn away from Europe.”  

Euroclear, one of world’s largest providers of cross-border settlements, which holds some €37 trillion in assets, has long opposed Brussels’ plans to tap frozen Russian funds, and its shareholders support that position, Urbain noted. The income linked to Russian activity “must be retained and must not be distributed,” she insisted.  

The US had been pushing for the outright seizure of the underlying assets in order to fund Ukraine’s government, but has shifted towards taking only the interest amid resistance from France, Germany and the ECB, who worry that the euro could be affected if countries such as China start repatriating their massive foreign reserves as a precaution against their possible confiscation in the future.  

Officials from G7 states privately said that full confiscation is no longer on the agenda despite Ukrainian demands, Financial Times reported last week.  

Russia has said that any action taken against its assets would amount to theft and violate international law.

Full Article

Tags: Russia Today
Share11Tweet7
Previous Post

Indian opposition vows to scrap Modi schemes

Next Post

Putin updates Russia’s national development goals

Admin

Admin

Next Post
Putin updates Russia’s national development goals

Putin updates Russia’s national development goals

thehopper.news

Copyright © 2023 The Hopper New

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
    • Home
    • About
  • Video
    • Discussion
  • Geopolitics
  • Intel & Security
  • Foreign Affairs
  • News

Copyright © 2023 The Hopper New

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.