{"id":351,"date":"2024-02-02T23:27:23","date_gmt":"2024-02-02T20:27:23","guid":{"rendered":"https:\/\/newsroomin.eu\/en\/?p=351"},"modified":"2024-02-02T23:27:26","modified_gmt":"2024-02-02T20:27:26","slug":"euroclear-earned4-billion-from-russian-assets","status":"publish","type":"post","link":"https:\/\/newsroomin.eu\/en\/euroclear-earned4-billion-from-russian-assets\/","title":{"rendered":"Euroclear earned \u20ac4.4 billion from frozen Russian assets"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"287\" src=\"https:\/\/newsroomin.eu\/en\/wp-content\/uploads\/sites\/2\/2024\/02\/image-1.png\" alt=\"\" class=\"wp-image-353\" style=\"width:840px;height:auto\" srcset=\"https:\/\/newsroomin.eu\/en\/wp-content\/uploads\/sites\/2\/2024\/02\/image-1.png 620w, https:\/\/newsroomin.eu\/en\/wp-content\/uploads\/sites\/2\/2024\/02\/image-1-300x139.png 300w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">International depository <a href=\"https:\/\/www.euroclear.com\/newsandinsights\/en\/press\/2024\/2024-mr-04-strong-performance-fy2023.html\" target=\"_blank\" rel=\"noopener\">Euroclear reported<\/a> a significant rise in profits for 2023, largely driven by \u20ac4.4 billion earned from frozen <a href=\"https:\/\/newsroomin.eu\/en\/alexei-navalny-missing-unexplained-absence\/\">Russian<\/a> assets. This contributed to a total income of \u20ac5.5 billion, compared to \u20ac1.17 billion in 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, the organization also highlighted the complexities arising from the &#8220;unprecedented&#8221; number of sanctions and counter-sanctions implemented since February 2022. While the pace of new sanctions slowed down in 2023, they continued to disrupt daily operations, causing &#8220;further disruption to the end-to-end process and increased manual intervention,&#8221; according to their <a href=\"https:\/\/www.euroclear.com\/newsandinsights\/en\/press\/2024\/2024-mr-04-strong-performance-fy2023.html\" target=\"_blank\" rel=\"noopener\">report<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"594\" src=\"https:\/\/newsroomin.eu\/en\/wp-content\/uploads\/sites\/2\/2024\/02\/EuroclearReport-1024x594.png\" alt=\"Euroclear\" class=\"wp-image-355\" srcset=\"https:\/\/newsroomin.eu\/en\/wp-content\/uploads\/sites\/2\/2024\/02\/EuroclearReport-1024x594.png 1024w, https:\/\/newsroomin.eu\/en\/wp-content\/uploads\/sites\/2\/2024\/02\/EuroclearReport-300x174.png 300w, https:\/\/newsroomin.eu\/en\/wp-content\/uploads\/sites\/2\/2024\/02\/EuroclearReport-768x446.png 768w, https:\/\/newsroomin.eu\/en\/wp-content\/uploads\/sites\/2\/2024\/02\/EuroclearReport.png 1132w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Euroclear emphasized the substantial effort required to manage both the extensive sanctions package and Russia&#8217;s countermeasures. They are dedicating significant resources to address these challenges and maintain open communication with clients and stakeholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report further detailed additional costs incurred by Euroclear due to sanctions management, amounting to \u20ac62 million in 2023. International sanctions and Russian countermeasures also resulted in a loss of business from sanctioned clients and Russian securities, negatively impacting their income by \u20ac24 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>International depository Euroclear reported a significant rise in profits for 2023, largely driven by \u20ac4.4 billion earned from frozen Russian assets. This contributed to a total income of \u20ac5.5 billion, compared to \u20ac1.17 billion in 2022. However, the organization also highlighted the complexities arising from the \u201cunprecedented\u201d number of sanctions and counter-sanctions implemented since February [\u2026]<\/p>\n","protected":false},"author":4,"featured_media":353,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_newsroomin_seo_keywords":"","_newsroomin_seo_lead_override":"","_newsroomin_disable_ads":false,"_newsroomin_is_archived":"","_newsroomin_tooltips":[],"footnotes":""},"categories":[1595,45],"tags":[78,16,47,73],"class_list":["post-351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","category-russia","tag-euroclear","tag-european-union","tag-russia","tag-sanctions"],"tooltips":[],"newsroomin_tooltips":[],"_links":{"self":[{"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/posts\/351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/comments?post=351"}],"version-history":[{"count":0,"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/posts\/351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/media\/353"}],"wp:attachment":[{"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/media?parent=351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/categories?post=351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsroomin.eu\/en\/wp-json\/wp\/v2\/tags?post=351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}