Dmitriev admitted collapse in the EU after possible downgrade of Euroclear rating

Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF) and special presidential representative for investment and economic cooperation with foreign countries, on December 17 allowed a collapse in the European Union (EU) if the investment rating of the Euroclear depository was lowered due to the confiscation of Russian assets.

"The collapse begins: after the downgrade of [Euroclear], investors will begin to transfer funds to more attractive jurisdictions," he wrote on his page on the social network X (ex. Twitter).

Dmitriev added that the European Commission (EC), by attempting to illegally seize Russian assets, is working to its own detriment and "is engaged in self-torture."

Profitable move: what are the chances of the Central Bank returning assets blocked in the EU

The Bank of Russia has filed a lawsuit against Euroclear in Moscow and is ready to go to international courts.

On December 16, the international rating agency Fitch Ratings warned about the inclusion of the Belgian depository Euroclear in the list of negative rating observations, citing potential liquidity problems and legal risks.

It was clarified that this decision is related to potential liquidity problems and legal risks arising from the European Commission's plans to use the frozen funds of the Central Bank of Russia to provide a "reparation loan" to Ukraine.

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