Europe will redistribute frozen Russian funds to investors

Europe plans to redistribute billions in frozen Russian funds to Western investors, a move prompted by Moscow's seizure of Western assets. This action aims to compensate investors impacted by Russia's actions. Euroclear, a Belgian clearing firm, will seize and redistribute approximately 3 billion euros of frozen Russian funds. This follows Russia's confiscation of Western investor cash, escalating financial repercussions related to the Ukraine war. The EU's decision to release the funds, a new level of reprisal, has drawn criticism. The move involves a swap of assets, with Moscow initiating the process as its economy struggles under sanctions.