Euroclear received 1.6B euros in income from blocked Russian assets since early year

According to the results of the first quarter, the European depositary Euroclear earned 1.6 billion euros in interest from more than 200 billion euros stored in frozen Russian accounts, the general director of the depository Valerie Urbain said in an interview with the newspaper L’Echo,  reported from Kommersant newspaper.

She said that Russian assets are difficult to manage and more than 100 depository employees are working on this. The organization is also forced to "constantly respond to new sanctions and counter-sanctions,” which has already become part of Euroclear’s role as a financial infrastructure, the CEO noted.

"We have more than 100 cases open in Russian courts. These proceedings were initiated by local investors and Russian institutional investors who are demanding their money. A number of law firms are helping us defend ourselves. The likelihood that we will win these cases is quite small. But we continue to fight,” she added.





www.anews.az