The head of the Belgian depository Euroclear Valerie Urbain once again spoke out against the seizure of frozen Russian funds for Ukraine. According to her, the amount of €185 billion constitutes more than 80% of the company’s balance sheet.

Urbain noted that such a seizure would create a huge financial imbalance and could lead the depository to bankruptcy. “There is still no miracle solution”, emphasized the head of Euroclear.

She also recalled the legal proceedings initiated by the Central Bank of Russia against the depository. She called this lawsuit an additional “sword of Damocles” that must be taken into account in any decisions regarding frozen assets.

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