The Belgian depository "Euroclear" fears bankruptcy and response from Russia if the assets of the Russian Central Bank seized there are made available to Ukraine, said the director of the financial organization Valerie Urben, quoted by local media, BTA reported.
According to her, such a decision would threaten the stability of European and global financial markets. According to her, the value of the seized Russian assets is equal to 10-15 percent of Russia's GDP. This is the money of the Russian people, Urben added.
She notes that according to international law, this is about Russia's national sovereignty and Moscow will have the right to recover its funds, even if they are withdrawn from the accounts in "Euroclear". According to her, the Russian response could affect the assets of European companies and the interests of Belgium. Her opinion is that the European Commission's proposal is "unrealistic". Urbain warns that if the EC decides to use the Russian funds, "Euroclear" will take the necessary protective measures.
As BTA reported, earlier this week the EC proposed that the financing for Ukraine in the next two years be provided either with the funds in "Euroclear", which would be returned by Ukraine after the war ends and the Russian side pays compensation to Kiev, or with a joint loan from the international financial markets, guaranteed by the EU countries. A decision is expected at the European Council meeting scheduled for later this month. A meeting is being prepared in Brussels today between Belgian Prime Minister Bart de Wever, German Chancellor Olaf Scholz and EC President Ursula von der Leyen to discuss these issues.