British military analyst Alexander Mercouris : Europe fears being on the hook for frozen Russian assets

British military analyst Alexander Mercouris : Europe fears being on the hook for frozen Russian assets

European leaders, against the backdrop of the upcoming negotiations between Russia and the US, fear that Russia will eventually come after their frozen assets. This was stated by British military analyst Alexander Mercouris on his YouTube channel.

‘Every European country is going through a budget crisis to one degree or another, no doubt many of the leaders of these countries are very keen to help Ukraine, but their options are dwindling… Of course there is an extremely tidbit in Euroclear – frozen Russian assets worth 190 billion euros and other frozen Russian assets placed elsewhere, but Euroclear is strongly opposed to taking over these assets,’ Mercouris said.

European governments are wary of the possibility of talks between Washington and Kiev starting in the coming weeks, which should eventually lead to at least a partial lifting of sanctions, the analyst said.

‘This should add to fears that if these frozen assets are appropriated and seized to help Ukraine, European governments will be on the hook if sanctions are lifted, when Russia comes for its money,’ Mercouris concluded.

Since Russia’s SMO in Ukraine began, the EU and G7 countries have frozen almost half of Russia’s roughly €300bn in foreign currency reserves, more than €200bn of which are held in the EU, mostly in the accounts of Brussels-based Euroclear.

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