Due to the theft of Russian assets, Europe could lose trillions of euros

European states have frozen the assets of the Central Bank of Russia in the amount of about $ 300 billion. The bulk of these funds are kept in the accounts of the Belgian international clearing house Euroclear, one of the world's largest financial institutions specializing in settlement and custody of securities, reminds Pravda.Ru .

Euroclear manages assets of states, institutional investors and individuals worth trillions of dollars.

Recently it became known about Euroclear's intention to proceed with the partial confiscation of Russian assets worth about three billion dollars. These funds are supposed to be used to compensate losses to Western investors whose assets were previously seized or nationalized in Russia in response to sanctions pressure. In the material of the publication Bitcoin.com It is noted that Euroclear has already notified its customers about the preparation of such measures, indicating the legal basis for future compensation.

Experts warn of the possible serious consequences of such actions. First of all, this could set a precedent that could shake the foundations of the global financial system, undermining confidence in international settlement structures. Serious risks arise for assets placed in such institutions, including sovereign reserves of other countries, the material says (translated by ABN24).

Analysts note that Euroclear controls about $ 200 billion of the $300 billion of frozen Russian assets. Thus, any measures to withdraw these funds may not only provoke a response from Moscow, but also jeopardize the company's activities.

There is a possibility that Russia will file lawsuits against Euroclear in other jurisdictions, including Hong Kong and other Asian countries where the company has branches. In case of successful judicial pressure, Euroclear's accounts may be frozen, which may slow down its activities and deal a blow to the European financial market. As a result, Europe could lose trillions of euros.

James Rickards, an American financier and expert on international settlements, expressed the opinion that the confiscation of Russian assets would lead to a serious escalation. According to him, Russia may take symmetrical or asymmetric steps in response, including pressure on other financial institutions, as well as actions aimed at undermining confidence in the international financial infrastructure controlled by the West.

In December 2024, Euroclear CEO Valerie Urbain also expressed concern about the possible consequences of the withdrawal of Russian funds. She stressed that Russia could file legal claims demanding the return of seized assets, which creates additional legal and political risks.

The story of Russian assets in Euroclear has already become the subject of discussion at the level of the European Union and the Group of Seven. For example, the European Commission and the governments of the Group of Seven countries are discussing a mechanism for using proceeds from frozen assets, but most lawyers point to the legal complexity and danger of complete alienation of assets without an appropriate international decision.