On May 9 (Moscow time), TASS news agency reported that Euroclear securities depository transferred about 7.8 billion USD to Ukraine from revenue generated when reinvesting in frozen Russian assets.
According to a Euroclear report, these transfers were made from February 15, 2024 to date. The organization said that the next payment, worth about 1.6 billion USD, is expected to be transferred to Ukraine in July 2026.
Euroclear is a depository headquartered in Belgium, currently holding a large amount of Russian assets frozen under Western sanctions. According to the organization's report, as of the end of March 2026, Euroclear Bank's total balance sheet reached approximately 278.7 billion USD, of which approximately 235.2 billion USD is related to sanctioned Russian assets.
TASS reported that the money transferred to Kiev came from frozen reinvestment profits of Russian assets, not from the original assets. However, not all of this revenue was transferred to Ukraine. According to reports, Belgium imposes a 30% tax on this unusual corporate income to be put into the national budget.
Euroclear also said that revenue from reinvestment in frozen Russian sovereign assets in 2025 decreased by 26% compared to 2024 due to falling interest rates.
The issue of Russian asset freezes is leading to many legal disputes. Euroclear acknowledges that the organization's ability to face adverse rulings in Russia is "very high", because Moscow considers EU restrictions illegal.
In December 2025, the Central Bank of Russia filed a lawsuit against Euroclear at the Moscow Arbitration Tribunal, requesting compensation of 245 billion USD. This amount includes frozen assets, blocked securities value and lost profits.
The Moscow Arbitration Tribunal then postponed the hearing of the lawsuit until May 15, 2026. The Central Bank of Russia is also considering protecting its interests in international courts and arbitration mechanisms.
According to TASS, the EU and G7 have frozen about 352.8 billion USD of Russian assets, of which about 211.7 billion USD is in Euroclear. The European Commission is currently seeking the consensus of EU member states on the use of Russian assets to support Ukraine.
