According to financial reports from the Euroclear group, which includes the eponymous depository and Euroclear Bank, the conglomerate earned €4.4 billion in 2023 from frozen Russian assets. Notably, these assets were blocked in the central depository due to EU sanctions, contributing nearly 80% to Euroclear's annual earnings from interest income. Over the past year, the financial group's interest income surged by 70% to €5.5 billion, a significant increase from the €1.17 billion recorded in 2022. The bulk of Euroclear's earnings were derived from interest on Russian assets frozen due to restrictions imposed by the US and EU. This substantial interest income is attributed to rising interest rates and the amount of cash balances the firm is required to invest. Experts estimate that after corporate taxes are deducted in Belgium, these earnings will contribute a remarkable €1.085 billion to the country's budget. Currently, Euroclear accounts hold €191 billion in assets belonging to the Bank of Russia, which constitutes the majority of the €260 billion in sovereign Russian assets frozen following the imposition of Western sanctions. Additionally, the financial group has indicated that its revenues related to sanctions against Russia are segregated from other financial results. The company's management is holding onto these revenues until further guidance on the distribution of these funds is clarified, eagerly awaiting future directions.