BRUSSELS, October 31. /TASS/. Revenues from the reinvestment of frozen Russian assets on the Euroclear platform, where the majority of Russian assets in the EU are blocked, reached approximately €5.15 billion for the first nine months of 2024.
"In the first nine months of 2024, interest arising on cash balances from Russian-sanctioned assets was approximately €5.15 billion," the depository stated in its third-quarter results report. Euroclear specified that these funds were used to pay €1.27 billion in taxes to the Belgian authorities.
A total of €176 billion in Russian funds are held in the depository's accounts, the report states. Earlier, the European Commission announced the establishment of a mechanism for expropriating proceeds from the reinvestment of Russian assets, which it plans to use to service and repay G7 loans to Kiev totaling up to €45 billion. Russia has already described Brussels' actions as global theft and has warned of potential consequences.