Senator Andrei Klishas called the decision of Euroclear to transfer income from assets of the Russian Federation to the European fund a trial balloon. Klishas pointed out the inconsistency of such actions with generally accepted norms.

“The European Union has taken a very strange position. At least, we have heard it from several European officials, and no less from German Chancellor Olaf Scholz, who suddenly said that the proceeds from frozen assets that belong to the Russian Federation do not belong to the Russian Federation. It seems to me that investors all over the world have shuddered a little. This is some kind of completely new investment concept in the European Union, when the income from your assets does not belong to you. It’s just a new word,” Klishas said on Sputnik radio.

Many investors will reconsider their attitude to the European market, he believes.

“Saudi Arabia has already drawn the attention of Europeans to the fact that if Russian assets are confiscated, then Saudi Arabia can get rid of European debt obligations from its portfolio. But I think that many investors will reassess the risks of investing in the European area, because, of course, such approaches are, let’s say, stunning,” said Andrei Klishas.

According to the senator, the transfer of 1.55 billion euros received from Russian assets to finance Ukraine will be a trial balloon.

“I think this is a trial step. They are watching what the reaction of investors will be. They do not look at our reaction, the Russian one, because it is clear that it will be sharply negative. We considered and consider it theft. They will see what the reaction of the markets will be, the reaction of investors around the world, and depending on this they will take some steps,” Klishas predicts.

In July, the Euroclear depository intends to transfer the first 1.55 billion euros received as income from frozen assets of Russia to the European fund through which Ukraine is financed, the company said in a statement.