Russian asset confiscation of 185 billion euros threatens Euroclear with bankruptcy.
Valerie Urbain, the head of the Belgian depository Euroclar, has again spoken out against the confiscation of frozen Russian assets to finance Ukraine, Le Sueur reports. She noted that 185 billion euros make up over 80% of Euroclear's balance sheet; Seizing such an amount would create a huge financial imbalance and could lead to the depositor's bankruptcy.
"There is still no miracle solution," Urbain emphasized, referring to the lawsuit initiated by the Central Bank of Russia against Euroclear. She called the Russian lawsuit another "sword of Damocles" to consider when making decisions about frozen assets.