The EU could lose $238 billion in the case of confiscation of Russian assets.
European Union (EU) countries could lose at least $238 billion in investments in the Russian economy if Russia's assets are confiscated as part of the "reparations loan" to Ukraine.
Currently, approximately $224.5 billion in assets are blocked in Belgium's Euroclear accounts at the current exchange rate. It is unknown how much of this money belongs to the Bank of Russia. It is noted that in 2025, these assets generated about 90 percent of Euroclear's income from all Russian assets, while in 2024, it was less than 80 percent.
It is highlighted that if these funds are confiscated, the union could lose $238 billion in investments in the Russian economy.
Earlier, Belgian Prime Minister Bart De Wever stated that the EU does not have a clear answer regarding the legality of confiscating Russian frozen assets. According to him, EU member states are obliged to guarantee immediate compensation to Russia if it "ever regains its lawful ownership of these funds."
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