EU clearing house profits on frozen Russian assets ...News

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EU clearing house profits on frozen Russian assets
Roughly half of Euroclear’s earnings in 2022 came from interest on funds that belong to Russians The EU’s major securities transactions company, Euroclear, reported a record-high net profit in its 2022 earnings report on Wednesday. According to the company, its earnings amounted to €1.2 billion ($1.3 billion), a 162% increase against the previous year. It noted that €597 million ($641 million) or roughly a half of those earnings came from operations with Russian assets that have been frozen under EU sanctions against Moscow. The Belgium-based firm settles and clears securities trades carried out on European exchan

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