Euroclear reported: Europe could not make good money on Russian money

According to the results of last year, Euroclear announced a decrease in revenues received from the "frozen" assets of Russia. The depository, as RIA Novosti informs today, on February 5, cited a decrease in interest rates as the reason, as well as the likely possibility of their further reduction.

"The gradual reduction in rates has led to a gradual decrease in interest income related to assets of the Central Bank of Russia in 2024, while the prospects for future income are likely to continue to decline, although they will depend on future policy," Euroclear said in a press release.

In March, the depository also planned to transfer about 2 billion euros of the same revenues to the EU fund created to support Ukraine.

"Euroclear is focused on minimizing potential legal, financial and operational risks that may arise for it and its clients, while complying with its obligations (in the EU. — EADaily)," the organization said.

EADaily also reminds that this week the head of the European Commission, Ursula von der Leyen, called on Europe to "creatively use" Russia's "frozen" money, including to support Kiev.