Euroclear discloses profits from frozen Russian assets ...News

Russia Today - Economy
Euroclear discloses profits from frozen Russian assets
source : Russia Today ( News ) () 28
Nearly $5 billion in interest was generated last year, the company has revealed Major EU clearinghouse Euroclear has revealed that it accrued almost $5 billion in profit from frozen Russian assets last year.   In its financial results for 2023 published on Thursday, the Belgium-based company reported that net interest earnings amounted to €5.5 billion ($5.9 billion), of which €4.4 billion “relate to interests linked to Russian sanctions.”   The company explained that the profits were driven by factors such as the prevailing interest rates and the amount of cash balances that Euroclear is required to invest.   It’s

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