EU plans to raise more money for Ukraine by putting frozen Russian state funds into riskier investments would amount to “expropriation”, the institution holding the bulk of the assets has warned.
Euroclear chief executive Valérie Urbain told the Financial Times that plans to reinvest cash generated by the assets to yield higher profits could risk further retaliation from Moscow, and undermine the central securities depository’s key position in the financial system.
“If you increase the revenues, you increase the risks. And so who is bearing that risk?” Urbain said in an interview.
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