This follows an earlier payment of €1.55 billion in July 2024.
Key Details
-
Second Payment Timeline:
Scheduled for March 2025 and will cover the second half of 2024, amounting to approximately €2 billion. -
First Payment:
In July 2024, Euroclear transferred €1.55 billion to the same Ukrainian fund—representing interest generated in the first half of the year. -
Additional Financial Obligations:
Euroclear will also pay €1.7 billion in taxes to Belgium on profits derived from managing these frozen Russian assets. -
Overall Earnings:
The firm earned €6.9 billion from its management of sanctioned Russian assets in 2024.
Context
-
Balance Sheet:
As of late December 2024, Euroclear Bank reported €212 billion on its balance sheet, with €183 billion linked to frozen Russian assets. Worldwide, an estimated €260 billion in Russian assets remain frozen. -
EU Proposal:
In March 2024, the European Commission suggested using 90% of the income from frozen Russian funds held in Europe to finance arms purchases for Ukraine—amounting to roughly €2.5–3 billion annually.
These measures underscore ongoing international efforts to redirect seized Russian financial assets toward supporting Ukraine, with Euroclear’s payments serving as a key component of that strategy.
