Euroclear transfers €6.6 bln in income from Russian assets to Kiev

Coverage Comparison

Reports from TASS, the Russian state news agency, detail the transfer of €6.6 billion from Euroclear to Ukraine, describing it as proceeds from reinvesting frozen Russian assets. All four TASS articles agree on the core figure, the start date of February 15, 2024, and the current holdings of €200 billion in sanctioned Russian assets at Euroclear. However, there is a slight discrepancy regarding the next payment: three articles mention €1.4 billion, while one article, quoting Russian Foreign Ministry Spokeswoman Maria Zakharova, cites €1.5 billion for July 2026. This inconsistency suggests either an update or a translation variance; the €1.4 billion figure appears in Euroclear's own report as relayed by TASS.

The articles also highlight the ongoing legal dispute. The Bank of Russia filed a lawsuit against Euroclear for 18.2 trillion rubles (approximately $245–251 billion), and Moscow's Arbitration Court upheld the claim on May 15, 2026. Euroclear has stated it will appeal, arguing its assets remain immobilized under EU law and that it does not recognize the court's jurisdiction.

Key Claims

• €6.6 billion transferred to Ukraine: According to Euroclear's report, as cited by TASS, the depository has transferred €6.6 billion in income from reinvesting Russian assets to the European Fund for Ukraine between February 15, 2024, and the present.

• Next payment in July 2026: Euroclear expects to send a further €1.4 billion in July 2026, according to TASS reports. One TASS article, quoting a Russian Foreign Ministry statement, cites €1.5 billion, creating a minor discrepancy pending official confirmation.

• Euroclear holds €200 billion in sanctioned Russian assets: TASS reports that 'at the end of March 2026, Euroclear Bank’s balance sheet totalled €237 billion, of which €200 billion relate to sanctioned Russian assets,' based on the depository's data. This includes accumulated coupon payments.

• Bank of Russia lawsuit: The Bank of Russia filed a lawsuit against Euroclear in December 2025 for 18.2 trillion rubles, covering frozen funds, blocked securities, and lost profits. The Moscow Arbitration Court upheld the claim on May 15, 2026, and Euroclear has said it will appeal.

• Russia condemns the transfers: Maria Zakharova called the EU's actions 'outright robbery' and reiterated that any operations with Russian assets without Russia's consent are unlawful.

Perspectives

The coverage exclusively from TASS presents the Russian official viewpoint, framing the asset transfers as 'illegal' and 'unlawful' under international law. The language includes terms such as 'illegally frozen' and 'outright robbery,' reflecting the Kremlin's characterization of EU and G7 actions. The articles do not include perspectives from the EU, Euroclear, or Ukraine, nor do they mention the broader context of international sanctions imposed in response to Russia's invasion of Ukraine in 2022, which led to the freezing of these assets.

According to TASS, the EU and G7 countries have frozen approximately €300 billion in Russian assets, though this figure is not independently confirmed by non-Russian sources in the provided material. Euroclear's stance, as reported, is that the assets remain immobilized 'in line with the international sanctions,' and the company faces multiple lawsuits in Russia, acknowledging a 'very high' likelihood of adverse rulings.

The transfer of these funds is part of a broader Western strategy to support Ukraine's budget and reconstruction efforts, as previously reported by other international media outlets, though such context is omitted in these particular TASS articles.