Euroclear to transfer 1.55 bln euros of profits related to Russian frozen assets to Ukraine fund in July

MOSCOW. July 19 (Interfax) - The Euroclear international depository will make its first contribution of 1.55 billion euros to the European Fund for Ukraine in July 2024, the company said in its report.

Euroclear received 3.4 billion euros as interest earnings from investing Russia's frozen assets in H1 2024.

These interest earnings amounted to around 4.4 billion euros and 821 million euros in 2023 and 2022, respectively.

Euroclear's total interest earnings reached 4 billion euros in January-July 2024.

The company will also pay taxes on profits earned from Russian assets in January-June totaling 836 million euros.

Therefore, Euroclear's net profits related to frozen assets of the Russian Central Bank amounted to 760 million euros in H1 2024.

Euroclear's balance reached 207 billion euros in late June 2024, of which 173 billion euros account for Russian assets targeted by sanctions.