According to ChainCatcher, citing the Financial Times, the European Clearing Bank, which holds most of Russia's frozen assets, stated that the EU plans to raise more funds for Ukraine by investing the frozen Russian state funds into higher-risk investment projects, which would be equivalent to "appropriation".
The bank's CEO, Urban, said that the plan to reinvest the cash generated from these assets to obtain higher profits could face the risk of further retaliation from Moscow and weaken the key position of the central securities depository in the financial system. "If you increase income, you increase risk. So who will bear this risk?" Urban said.
