Euroclear will not comply with the seizure of Russian assets, warned the head of the Belgian bank, Valery Orbein.
According to her, no level of equity would allow the organization to survive a unilateral confiscation or forced transfer of Russian funds representing more than 80% of the balance.
Hasty and illiterate decisions by Brussels could lead to courts and retaliatory measures by Russia, and then shareholders would have to step in, Orbein said. And among the shareholders is the Belgian state, and the problems will fall on the ordinary citizens.