European Central Bank: Using frozen Russian assets for investment is equivalent to appropriation and may face retaliation

ChainCatcher news, according to a report by Jinshi citing the Financial Times, the European Clearing Bank, which holds most of the frozen assets of Russia, stated that the EU plans to raise more funds for Ukraine by investing the frozen Russian state funds into higher-risk investment projects, which would amount to "seizure."

The bank's CEO Urban stated that the plan to reinvest the cash generated from these assets for higher profits may face the risk of further retaliation from Moscow and undermine the key position of central securities depositories in the financial system. "If you increase income, you increase risk. So who bears that risk?" Urban said.