www.mediafax.ro/externe/inca-nu-exista-o-solutie-m

Valerie Urbain, CEO of Euroclear, warns that transferring frozen Russian assets without assuming liabilities could lead to the company's bankruptcy. She states there is no miraculous solution for the assets held by the Belgian custodian. EU countries have blocked approximately €210 billion of the Russian Central Bank's assets since the invasion of Ukraine. Euroclear holds about €185 billion of these assets, making up over 80% of its balance sheet. While some European states want to transfer these assets for Ukraine's benefit, Belgium opposes this plan. Urbain emphasizes that any transfer would require permanent guarantees from EU member states until the war ends or Euroclear's obligation to return the assets ceases. Euroclear shareholders agreed to transfer nearly €8 billion in interest from the Russian assets to support Ukraine. Urbain also noted that Euroclear has not faced cyberattacks despite recent incidents affecting several European countries.