Euroclear, a little-known but central player in Europe's financial system, holds €193 billion in frozen Russian assets that, since the invasion of Ukraine, have drawn intense scrutiny. Its director general, Valérie Urbain, warns that confiscation – illegal under international law – would weaken Europe's position.
I think you are right, it might be more expensive (in many ways) to break the trust in the long term.
What trust? You can trust us with your money, unless you plan on attacking Europe is IMO the correct message to send.
Hell, I’d add it as a law: in case of being the aggressor in a war, all your assets will be used to help with reparations.
What is Europe though? Ukraine isn’t a part of EU, NATO or even EEA so borders of that European empire we’re protecting become kind of arbitrary.
Ukraine is part of Europe.
That aside, Russia is violating not only human rights and the rule of law with its illegal invasion, it has also broken some 400 treaties since the invasion began in 2014 (that’s basically all treaties the Kremlin has signed).
More importantly, though, Putin has been signing several decrees since 2022 allowing the seizure of Western assets, entangling firms ranging from Germany’s Uniper to Danish brewer Carlsberg.
And Europe is not an “Empire.” Protecting Ukraine means protecting Europe as Russia will not stop here but rather aiming to attack the next country.
That’s a rhetoric of spheres of influence and I don’t want EU to go there. It’s in our best interest to help out Ukraine so that we’re not flooded with millions more of refugees and because independent Ukraine is better for trade. Given the current political climate it’s best to stick to cold business facts rather than ideals - it’s easier to sell to general public.
Euroclear is not responsible for that.
Europe is a continent which Ukraine is part of. Border of Europe is pretty well defined, though I’m very open to redrawing the borders so that Russia isn’t even partially part of Europe.
You’re back to sphere of influence talk, that’s something Russia does but we shouldn’t.
I believe that being nice to people who want to hurt you is stupid. Call it whatever you want, if you attack Europe, you’re disturbing our peace and that should come with serious repercussions.
It has nothing to do with being nice, more with being consistent about own beliefs. If EU/NATO gets to draw arbitrary borders of spheres of influence (and Europe as a continent is arbitrary) then Russia gets to pretend to be anti imperialist (especially to global south who aren’t emotionally invested) with pretty strong arguments that you are giving them right now.
They pretend anyway, so what’s your point? I simply don’t want them in Europe, is that so hard to understand? My country has been occupied by them for decades, so no thank you.
They pretend to because we continue to give them reasons.
Trying to do get reparations out of Russia has to be done properly or it won’t happen at all. EU pressuring Euroclear means they’re passing a buck to a private company that is subject to existing laws and agreements and will not budge unless forced (and then they will sue and win). Rather than being angry with EC, be angry with EU because they can’t get anything done for real.
I’m from Poland so what’s your point? Nobody other than us cares about our history really.