A major shake-up in the global clearing system could be on the horizon! Euroclear, the Belgian financial service giant, is reportedly moving forward with the confiscation of $3 billion in Russian assets held in custody. ⚠️

This decision comes as Euroclear aims to compensate companies affected by asset seizures in Russia, pending approval from the Bulgarian Treasury. However, economists warn that this could set a dangerous precedent for asset utilization during conflicts.

U.S. economist Jim Rickards has been vocal about the potential fallout, suggesting that these actions could throw "a monkey wrench" into the world's clearance system. With $200 billion of the $300 billion in Russian assets held by Euroclear, the stakes are incredibly high!

Euroclear's CEO, Valerie Urbain, previously cautioned about the risks of such moves, emphasizing the importance of trust in the financial system. As interest from these assets is already funding aid for Ukraine, the situation remains tense.

What do you think about Euroclear's bold move? Let us know your thoughts! 👇