Today at 00:04
The Belgium-based international depository, Euroclear, is planning to make a second payment to the European Fund for Ukraine, totaling about EUR 2 billion, in March 2025.
The relevant statement was made by the company’s press service, an Ukrinform correspondent reports.
“After retention of a 10% share of the windfall contribution to comply with capital and risk management requirements, Euroclear made a first payment for H1 2024 of approx. €1.55 billion to the European Fund for Ukraine in July 2024. A second payment for H2 2024 is expected to take place in March 2025 and should amount to approx. €2 billion,” the report states.
In 2024, interest arising on cash balances from Russian-sanctioned assets was approximately EUR 6.9 billion. Subject to Belgian corporate tax, these earnings generated EUR 1.7 billion tax revenue for the Belgian State.
At the end of December 2024, Euroclear Bank’s balance sheet amounted to EUR 212 billion, of which EUR 183 billion relate to sanctioned Russian assets.
A reminder that the European Union, G7 countries and Australia blocked about USD 282 billion in Russian assets through securities and cash. All parties agree that these funds should remain inaccessible to Russia unless it agrees to help rebuild Ukraine, but disagree on the legality of the complete seizure of such assets.
As noted by European officials, the total profits withdrawn from Euroclear may reach EUR 20 billion by 2027.
