Euroclear plans to transfer €2 billion of proceeds from frozen russian assets to Ukraine's fund in March

“After withholding a 10% excess profit contribution to comply with capital and risk management requirements, Euroclear made the first payment for the first half of 2024 of approximately €1.55 billion to the European Fund for Ukraine in July 2024. It is expected that the second payment for the second half of 2024 will take place in March 2025 and should amount to about €2 billion,” the statement said.

Euroclear will also pay taxes to Belgium on income received from russian assets in 2024 in the amount of €1.7 billion.

In 2024, interest earned on cash balances from russian assets under sanctions amounted to approximately €6.9 billion.

As of the end of December 2024, Euroclear Bank's balance sheet stood at €212 billion, of which €183 billion was attributable to russian assets under sanctions.

Source: Ukrinform