Over the nine months of 2023, international custodian Euroclear received around €3 billion in interest income from Russian assets frozen due to sanctions. This is stated in reporte custodian.
Euroclear notes that this type of income is explained by two factors: high interest rates and the amount of money invested. As of the end of September, the depository’s balance increased by 45 billion euros compared to the same period last year.
Euroclear’s additional direct costs due to sanctions compliance for the three quarters of 2023 amounted to 34 million euros. In addition, the depository lost 18 million euros in revenue due to the suspension of transactions with Russian securities.
Last week the European Commission announced its intention To send Profits from Russian assets blocked for the restoration of Ukraine. The United States announced its support for this initiative.
Previously at the European Commission in the name The amount of Russian sovereign assets frozen in the European Union.