Euroclear CEO Valérie Urbain Warns EU Against ‘Expropriation’ of Frozen Russian Assets via Risky Investments

Euroclear, the Belgium-based financial services company that holds frozen Russian assets, has expressed opposition to the European Union's proposal to increase revenue for Ukraine by investing these assets in higher-risk securities. Euroclear's chief executive, Valérie Urbain, characterized the plan as a form of "expropriation." The company warned that raising returns through riskier investments could jeopardize the assets. This stance comes amid ongoing discussions about how to utilize frozen Russian funds to support Ukraine. Some experts have rejected Euroclear's concerns, arguing that the legal framework for seizing and reinvesting these assets is now clearer due to countermeasures, and that Russia's ability to challenge these actions is limited by sovereign immunity considerations. The debate highlights tensions between financial risk management and geopolitical objectives in the context of the Russia-Ukraine conflict.