In Europe, the only politically realistic approach to using Russian money to finance Ukraine is considered to involve about 1% of the frozen funds. However, Ukraine needs about €100B a year to fight the Russian invasion and another €50B a year to rebuild the country. It is noted that on paper, a large part of this money is theoretically available for use.
A less controversial option is gaining momentum in Brussels, which involves using approximately the $3B a year accumulated from frozen Russian assets to help Ukraine. Last month, the EU officially ordered the separation of accumulated profits from Russian assets and removed them from the main balance sheet to use in further support of Ukraine.
All signals indicate that Europeans are ready to take advantage of this revenue stream from Euroclear. Funds accumulated in Europe can be invested in high-yield accounts in US dollars or invested in even higher-yielding sovereign debt.