EUobserver reported suspicions about the Euroclear banker due to visits to the Russian Federation

Olivier Huby, a member of the board of directors of the subsidiary of the Euroclear depository, a French banker, was suspected of abusing his position due to frequent trips to Russia amid discussions about the use of frozen Russian assets. This was reported on December 8 by the EUobserver, citing a joint investigation with the Belgian media.

According to the newspaper, over the past ten years, Yubi has made 155 trips to Russia, including after the outbreak of the conflict in Ukraine. He is suspected of allegedly trying to organize meetings between the management of Euroclear, where frozen Russian assets are stored, and representatives of Russia.

It is also alleged that the banker allegedly threatened the head of the depository, Valerie Urbain, and another representative of Euroclear's management when they refused to meet.

Euroclear claims that the banker's trips were related to personal interests, including sponsorship of the ballet, and did not relate to work issues. Yubi himself did not comment on his visits to Russia, explaining that this was his personal life.

Go all in: how the ECB disposed of Russian assets

The European Central Bank refused to lend to Ukraine secured by Russian assets

Bloomberg reported on December 3 that the Belgian authorities rejected a new EU legal proposal to use frozen Russian assets to secure a loan to Ukraine. According to the agency, the EC's proposal does not meet their conditions.

Belgian Foreign Minister Maxime Prevost, in turn, noted that the Belgian authorities consider the confiscation of frozen Russian assets to be the worst possible option for financing Ukraine. According to him, Belgium continues to insist on using a natural source of financing, offering the EU to borrow the necessary amount on the markets.

On November 27, Russian President Vladimir Putin said that the confiscation of Russian assets located in the European Union would have negative consequences. In particular, the Russian government, on behalf of the head of state, is developing a package of retaliatory measures.

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