Russia’s frozen assets bring Euroclear over €100 million

The Belgium-based financial services company Euroclear, which is one of two European international central depositories, has earned 110 million euros on Russian assets frozen due to anti-Russian sanctions.

The announcement came in the company’s semi-annual financial report on July 25, Gazeta.Ru reports.

According to the document, as a result of the US and EU sanctions imposed on Russia, the amount of cash on Euroclear's balance increased due to the accumulation of blocked coupon payments and funds intended for the redemption of securities.

In line with the standard process of the organisation, the funds are invested to earn interest income. Thus, in the first half of the year, the company's interest income from frozen Russian amounted to 110 million euros.

On an annual basis, Euroclear's balance sheet grew by 72 billion euros. As a result of rising interest rates and the accumulation of cash from frozen Russian assets, interest income reached 191 million euros, which is 262 per cent more than last year.