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Frozen Russian assets earned 3 billion euros, or about $3.16 billion, for Euroclear in the first nine months of the year, the securities depository said. Belgium-based Euroclear, a key intermediary in global financial markets, is holding a large chunk of the $280 billion in Russian assets that were
Euroclear said that frozen Russian assets brought in 3 billion euros or $3.16 billion for the securities depository during the first nine month of this year.
Euroclear in Belgium, an important intermediary on global financial markets, holds a significant portion of the $280 Billion in Russian assets which were frozen last year by Western sanctions.
The depository cannot pass certain payments on to sanctioned Russian companies and has invested that money in order to boost its income and profit.