Euroclear, a global provider of Financial Market Infrastructure, specializing in cross-border securities transactions, announced on July 19 that “In July 2024, Euroclear will make a first payment of €1.55 billion to the European Fund for Ukraine following the recent implementation of the EU regulation on the windfall contribution. This adds to the €836 million of corporate taxes to be paid to the Belgian State on the profits related to the Russian assets in H1 2024.”
This is the interest confiscated from the frozen Russian funds that it holds, and will transfer it to Ukraine in the coming days.
RT noted: “It follows months of deliberations among EU and G7 nations about how to use billions of dollars belonging to Russia’s central bank that were immobilized as part of Ukraine-related sanctions.
“The announcement came as part of a report on the financial results for the first half of 2024, which revealed that frozen Russian assets had generated €3.4 billion ($3.7 billion) of the €4 billion ($4.36 billion) interest accrued by the clearing house during the six-month period.
