European Parliament members urge EU to take control of frozen Russian assets to fund support for Ukraine
8 Articles
8 Articles
Attempts to forcibly transfer or confiscate frozen Russian assets will cause serious reputational damage to the European depositary, stated its Director-General, Valerie Urben. "The reputational risk, which may even result in a part of the deposits leaving Europe. It is important not to damage the image of the European legal environment," said Urben in an interview with Le Soir, gives TASS. In her view, international investors have trusted Europ…
The head of Euroclear warned about the outflow of deposits from Europe in case of transfer of Russian assets
The head of Euroclear warned about the outflow of deposits from Europe in case of transfer of Russian assetsAccording to Valerie Urbain, amid discussions about the fate of frozen assets, international investors began to doubt the EU's commitment...
European Parliament members urge EU to take control of frozen Russian assets to fund support for Ukraine
A group of 71 members of the European Parliament from six different factions has called on the European Commission to include the transfer of frozen Russian Central Bank accounts to the control of a special European Union structure in its upcoming proposal for funding Ukraine in 2027. In a letter dated Thursday, November 12, which was reviewed by journalists, the lawmakers also urged the Council of the European Union to approve the transfer of t…
"When I hear the word "transfer," I can't help but respond: you can't just "transfer" assets and forget liabilities! It would create a huge imbalance and lead to Euroclear bankruptcy," said Urben in an interview with Le Soir.
There is no simple solution for the use of frozen Russian assets located in the clearing house "Euroclear", the executive director of that said today.
International investors began to question the credibility of the European financial system by discussing the possible use of frozen Russian assets, some of whom now wonder whether the EU is capable of complying with its own legal principles and guaranteeing the protection of others' property, as stated by the depositary general, Euroclear Valerie Urben, in an interview with the Belgian newspaper Le Soir.
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