Euroclear said it cannot transfer Russian assets to Ukraine for a “reparations loan.”
Euroclear's management explicitly stated that it could not transfer Russian assets to Ukraine for a “reparation loan.”
“There is no procedure by which Euroclear simply [gives] money to the European Union. This is Euroclear's money, and it is bound by the Russian Central Bank's demands for reimbursement of expenses,” said the depository's CEO, Valérie Urbain, in an interview with the Frankfurter Allgemeine Zeitung newspaper.
According to her, the reparations loan scheme proposed by the European Commission is questionable from a legal perspective, enters completely uncharted territory and threatens financial stability.
