US EditionGermany's Merz Says We Will Confiscate Frozen Russian Assets if Legally Possible
- Friedrich Merz of Germany stated that the EU is set to implement additional sanctions on Russia during a meeting in Brussels next Tuesday, following Putin’s decision not to participate in peace negotiations in Istanbul.
- Putin's absence blocked a ceasefire since all prerequisites were in place, and Zelenskyy had shown willingness to negotiate at the Istanbul talks.
- The sanctions target €195 billion of frozen Russian assets held in custody at Euroclear, which manages €41 trillion in assets and fears seizures could trigger a bank run.
- Merz said Europeans coordinate with the US on sanctions while Euroclear reported record first-quarter income of 466 million and delivered 3.5 billion to Ukraine’s fund.
- Confiscating assets faces opposition from Germany and others due to legal risks, possible Kremlin retaliation, and threats to global financial stability and Euroclear’s operations.
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Euroclear CEO: 'Confiscating Russian Assets Poses Systemic Risk to Financial Markets'
Valérie Urbain, the CEO of Euroclear, fears serious consequences for the financial markets if the Russian securities parked at the Brussels securities giant are imprudently confiscated. 'We cannot be left alone with the liability.'
·Belgium
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