Overview
- Euroclear CEO Valérie Urbán said the Belgian depository would challenge in court any order to confiscate frozen Russian holdings.
- She confirmed Euroclear holds about €193 billion in Russian assets, roughly €180 billion of which belong to the Bank of Russia.
- France’s Jean-Noël Barrot warned a proposed €140 billion interest-free loan to Kyiv may not be repaid and insisted the plan must not trigger asset confiscation.
- French minister Benjamin Haddad argued that any credits backed by the assets should finance purchases of European-made weapons.
- EU states remain divided after an October summit, with Belgium blocking expropriation as the bloc has already transferred €14 billion in 2025 from asset-generated revenues to Ukraine and Russia threatens retaliation if confiscation occurs.