Euroclear has unblocked more than $600 million of EDB funds

The Euroclear depository has unblocked more than $600 million of funds from the Eurasian Development Bank (EDB), which were blocked as accounts of the Russian Federation. This was announced on December 23 by Deputy Minister of Finance of Kazakhstan Dauren Kenbeil.

"From 2023 to today, of this amount of $733 million, more than $600 million has already been unblocked and directed to Kazakhstani projects," RIA Novosti quoted him as saying.

He also added that Kazakhstan expects to unlock another $120 million of these funds.

Profitable move: what are the chances of the Central Bank returning assets blocked in the EU

The Bank of Russia has filed a lawsuit against Euroclear in Moscow and is ready to go to international courts.

On December 12, the European Union (EU) decided to freeze Russian assets located in Europe indefinitely. We are talking about funds worth about €210 billion. The head of the European Council, Antonio Costa, noted that Russian assets will remain blocked until the end of the Ukrainian conflict and the payment of "compensation" to Ukraine.

The head of the European Commission, Ursula von der Leyen, said on December 17 that Russian assets frozen in the EU would remain blocked until the EU made another decision. She noted that these funds could become a "real turning point" for Ukraine's support and for Europe itself.

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