Euroclear earns €3bn on frozen russian assets

As per Euroclear’s standard process, cash balances (russian blocked assets) are unremunerated and cash balances are invested to minimise credit risk. 

In the nine months to 30 September 2023, interest arising on cash balances from frozen russian assets was approx. EUR 3 billion.

In parallel, the Euroclear Board notes that the EU European Commission is contemplating various options to use the profits generated by sanctioned amounts held by financial institutions, including Euroclear, for the financing of Ukraine’s reconstruction.

Source: Euroclear