While Russian courts have little power to force the handover of Euroclear’s euro or dollar assets held in Belgium, they do have the power to take retaliatory action against Euroclear balances held in Russian financial institutions.
However, in 2024 the European Commission introduced a legal mechanism to compensate Euroclear for losses incurred in Russia due to its compliance with Western sanctions — effectively neutralizing the economic effects of Russia’s retaliation.
it looks like euroclear following through on their promise of legal action is the only thing that will carry any weight.
Given that they want to steal Russian assets because they’ve run out of money to fund the war, it’s not clear where the money to compensate Euroclear would come from. However, that’s not really even the main issue. The real risk is that Europe becomes toxic to foreign investment once they do this. Nobody in their right mind would ever park money in Europe or invest into European industry after that. The whole attempt to seize Nexperia doesn’t help build confidence either. And of course, foreign money that’s currently in Europe is going to flee as well which will lead to a huge financial crisis bringing us back to the question of how the EC can possibly reimburse anything.
where else can the rich park their money?
the us used to be the answer; but things have changed and i wonder if they’ll just park it in europe anyways.
BRICS countries are the most likely destinations. There’s little chance that anybody outside the west would park money in Europe at this point.
Anyone who doesn’t invade, rape, torture and pillage will still be pretty safe when investing in Europe
Israel
Clearly rape, torture, and pillaging have fuck all to do with investing in Europe given that the US is one of the biggest trading partners of Europe. Try to put a bit more effort into your artless trolling.
