The decision to confiscate RF assets will be made in the coming weeks
The Belgian depository Euroclear will decide on the confiscation of frozen Russian assets in favor of Ukraine in the coming weeks.
This was stated by Euroclear CEO Valerie Ubren, RBC-Ukraine reports citing L'Echo.
It is noted that the European Commission will be able to receive up to 89% of the income remaining after taxes.
"The decision should be made in the coming weeks. The amount will be in the range of 87% and 89% of all income from Russian assets after taxes," said Ubrun.
She also noted that the total amount of proceeds from the blocked assets will be €2–3 billion, depending on interest rates.
According to her, the confiscation of sovereign Russian assets frozen on the Euroclear platform could hit the financial markets. In addition, according to Ubren, the depository is pursuing more than 100 lawsuits in Russian courts against Russian investors demanding the return of funds blocked due to sanctions.
Author - Serhii Kolomiets, 08/05/2024
