As we mentioned earlier, in February this year the EU Council approved legal grounds for separate account of profits from frozen Russian sovereign assets (Central Bank of Russia assets).
Twice a year the central securities depositories (CSDs) in the EU will channel profits from frozen Russian sovereign assets to the European Peace Facility (90%) and to EU programs financed from the EU budget (10%). The first payments will be made as early as July 2024, according to the European Commission.