In the Belgian Euroclear, the plan to withdraw Russian assets was called unrealistic

The head of the Brussels clearing house Euroclear, Valerie Urben, said that as it stands, the European Commission’s plan to forcibly remove frozen Russian assets to help Ukraine is unrealistic, and the depository is prepared to challenge it in court to protect itself from possible bankruptcy in the event of retaliatory measures by Moscow. She said this in an interview with a Belgian TV channel RTBF.

Urben emphasized that international law allows blocking, but not expropriation, of the assets of other states.

“If Russia regards this reconstruction loan granted to Ukraine as confiscation of its assets, it will not be inactive,” added the head of the depository.

Read also: Great Britain intends to transfer 8 billion pounds of Russian assets to Ukraine – The Times

She warned that Belgium itself could become the target of economic and judicial steps in response.

In turn, the Bloomberg agency reports that the US is persuading a number of EU countries not to support the reparation loan, arguing that Russia’s frozen assets are needed as a tool for a future peace agreement with Moscow and should not be used to continue the war.

It is not specified in which countries such negotiations took place. According to one version of the American peace plan, $100 billion of frozen Russian assets in the United States could be invested in the reconstruction of Ukraine, while Washington would receive 50% of the profit.

After Russia’s attack on Ukraine, assets of the Russian Central Bank in the amount of about 260 billion euros were frozen in Western countries. Most of these funds – about 193 billion euros – are kept in Belgium in the accounts of the Euroclear depository. European countries have been discussing the possibility of using these funds to help Ukraine for almost four years.

In recent weeks, the idea of ​​a “reparation loan” to Kyiv for 140 billion dollars secured by Russian assets has also been discussed in Europe. Against this Belgium strongly advocateswhich has jurisdiction over the bulk of the funds, fearing possible legal claims from Russia.

European Central Bank not ready either to insure such a “reparation loan”.

Russia categorically rejects any attempts to confiscate its funds and calls the possible use of these assets for the benefit of Ukraine theft.