Euroclear's chief executive Valerie Urbain warns there is no miracle solution as the EU weighs using frozen Russian assets. Politika reports the EU wants to make €210bn available to Ukraine, while TASS says Urbain called a transfer without liabilities impossible.
Russian central bank assets were frozen in Western countries after Russia's full-scale invasion of Ukraine in February 2022, with a large share held at the Belgium-based depository Euroclear. The EU debates whether to use them to fund Ukraine, while Russia opposes this and Euroclear stresses legal and financial risks.
Euroclear chief executive Valerie Urbain told Le Soir, as reported by Reuters, that there is no miracle solution on frozen Russian assets. According to TASS, Urbain said transferring the assets to a new entity without the liabilities is impossible and could trigger the depository's bankruptcy, while Politika reports the EU wants to make €210bn available to Ukraine.