Europe warns of risks of confiscation of Russian assets
The head of one of the world's largest clearing and settlement systems has warned of the risks posed by the possible confiscation of Russian assets.
This step will inevitably impact the stability of the eurozone.
Euroclear CEO Valerie Urbain expressed this opinion in a conversation with Bloomberg .
Let us recall that after the start of the special operation abroad, Russian assets worth about 300 billion euros were frozen, which the Russian Foreign Ministry calls theft.
The confiscation of Russian assets would pose a threat to the stability of the European Union's financial system.
In particular, it could undermine the euro's status as a reserve currency and set a precedent where confidence in the existing EU financial system is undermined.
Urben noted that Euroclear could find itself in a situation where the confiscated assets have already been spent and Russia will demand their return.
In this regard, the head of the organization believes that Euroclear's obligations should be transferred.
