EU states agree on plan to use Russian funds. Money should be used to rebuild Ukraine.
Direct use of Russian assets could lead to other states and investors losing trust in the European financial center and withdrawing assets from the EU. The EU, the United States, Japan and Canada froze around $300 billion in Russian central bank assets in 2022. About $200 billion of that is in Europe, mostly at the Belgian clearing house Euroclear, which recently announced it had made three billion euros in interest income in the first nine months of last year.