Russia's legal siege over assets continues, costing Euroclear hundreds of millions of euros in 2026
Euroclear is facing "multiple proceedings in Russian courts," including a case launched by the Russian Central Bank that seeks to challenge the immobilization of its assets.
Belgian financial services firm Euroclear is enduring significant financial strain due to Russia's sanctions and countermeasures, as outlined in its 2026 earnings report. The EU imposed an indefinite asset freeze on Moscow's immobilized holdings after Russia's 2022 invasion of Ukraine, with Belgium holding the largest share at €204 billion ($228 billion).
Euroclear's 2026 earnings report reveals a loss of €27 million ($30 million) in business income and direct costs of €233 million ($261 million), with €162 million attributable to Russian court claims. These expenses are partially offset by the interest generated from the assets, which totaled €3.6 billion ($4 billion) in 2026. However, Euroclear transfers the majority of these earnings to the EU for Ukraine support.
Despite Russia potentially targeting the assets as a quick source of funding for its defense, Euroclear faces legal risks and logistical challenges if the assets were relocated. The European Commission is currently exploring options to continue supporting Ukraine, with potential use of the Russian assets considered as a last resort.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
