Euroclear Fears Moscow's Retaliation for Confiscation of Russian Assets 0 12

The Belgian depositary Euroclear has made it very clear that it fears the consequences of using Russian assets to finance Ukraine. This was stated in an interview with AFP by the organization's risk management director, Guillaume Elié. He was quoted by France24.

He pointed out that Euroclear still holds about 16 billion euros of client assets in Russia, which the company fears Moscow may confiscate "in retaliation" for the expropriation of its funds. Elié noted that while statements about guarantees are being made from European countries, it remains unclear how binding they will be in the event of political changes in these states.

Furthermore, the depositary is concerned that using Russian assets to finance Ukraine could be perceived as confiscation. This could undermine trust in the eurozone economy as a whole. Elié stated that such a development could be interpreted by international investors as a signal that Europe is an unsafe place for investments.