The legislative framework, once developed, will not have retroactive effect in relation to income received in the past, but will apply only to those income that will be accumulated after the entry into force of the new rules, journalists explain.
“This means that Euroclear's 2023 revenue of €4.4 billion will likely not be reserved for Ukraine,” the publication writes.
On January 30, European Commission representative Christian Wigand said that the EC does not yet have a mechanism for transferring income from frozen Russian assets to Kyiv.
The Russian Foreign Ministry noted that Moscow will respond to any attempts by Western countries to confiscate Russian real estate and assets.