Name: How Russia strikes back at EU asset seizure scheme
Uploaded: 2025-12-16T19:02:37.845Z
Duration: 1 min 36 s
Description: The EU wants to support Ukraine with the help of frozen Russian state assets. But Moscow is fighting back, and is suing the Belgian financial services provider Euroclear, which manages the assets.

The EU wants to support Ukraine with the help of frozen Russian state assets. But Moscow is fighting back, and is suing the Belgian financial services provider Euroclear, which manages the assets.

Moscow

Russian forces have invaded Ukraine from land, air and sea with strikes causing widespread damage. Global leaders have condemned the move and imposed sanctions.

Ukraine Invasion

The European Commission has suggested borrowing against approximately 210 billion euros in frozen Russian state assets to provide reparation loans to Ukraine. Under the proposal, Ukraine would receive 90 billion euros over two years, and would only be required to repay the loan if Russia pays an equivalent amount in war reparations. 

A significant portion of these assets are managed by Euroclear, a Belgian financial services provider. In response to the EU's plan, the Russian Central Bank has filed a claim for damages against Euroclear, while the Belgian Prime Minister has called for binding guarantees from EU member states to cover associated risks.

How Russia strikes back at EU asset seizure scheme

Most EU member states want to keep Russia's state assets frozen for an indefinite period. The European Commission now wants to borrow against some of the money, totalling around 210 billion euros, to fund reparation loans to Ukraine. The reparation loan is not the major and the best, but the only option how we can mobilise finances for Ukraine's need. And we know how many billions they need for defence efforts and also for macro-financial stability. According to the proposal, Ukraine would receive 90 billion euros over the next two years. Kiev would only have to repay it if Russia eventually covers an equivalent amount in reparations for war damages. A reparations loan we can do with the QMV. A reparations loan is based on the Russian frozen assets. That means it doesn't come from our taxpayers' money, which is also important. And it also sends a clear signal that if you do all this damage to another country, you have to pay for the reparations. However, the Belgian Prime Minister is now demanding binding guarantees from the member states to cover the risks. This is because a large proportion of the confiscated assets are managed by the Belgian financial services provider Euroclear. The Russian Central Bank filed a claim for damages against Euroclear last week.

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How Russia strikes back at EU asset seizure scheme

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