The Duran Podcast EUROCLEAR warns Ursula on seizing Russian Assets
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Nov 24, 2025 The hosts dive into the contentious issue of frozen Russian assets and examine Ursula von der Leyen's controversial funding strategies for Ukraine. They discuss Ukraine's staggering budget crisis and the warnings from Euroclear's CEO about the legality of seizing assets. The conversation highlights the geopolitical pushback from the ECB and explores the centralization ambitions behind these financial maneuvers. Additionally, they ponder over the potential retaliation from Russia and the significant legal ramifications involved.
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Ursula’s Three Funding Options
- Ursula von der Leyen proposed three funding options for Ukraine: direct payments, collective debt, or using frozen Russian assets as preferred collateral.
- The EU needs roughly €130–€150 billion to keep Ukraine afloat for two years according to the hosts.
Seizing Assets As A Political Shortcut
- Patrick Henningsen argues seizing Russian assets is framed as a solution because direct funding or debt mutualization are unattractive to many EU states.
- He calls this decision-making driven by sunk-cost fallacy and political obsession rather than rational risk assessment.
Euroclear’s Legal And Systemic Warning
- Euroclear's CEO Valérie Urbain publicly warned that using frozen Russian assets would be illegal and would destroy Euroclear's reputation.
- She cautioned such a move could undermine the European financial system and Belgium's fiscal stability.