The Battle Over Euroclear and Russia’s Frozen Billions

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<h1 class=”entry-title”>The Battle Over Euroclear and Russia’s Frozen Billions</h1><h2 class=’main-sub-title’></h2><div class=’post-summary’>The EU has begun to use frozen Russian assets in Brussels to fund Ukraine’s war effort, and has triggered Article 122 of the Treaty on the Functioning of the European Union. Belgium resists full confiscation, fearing damage to its financial sector and the euro’s credibility. The US pushes Europe to seize more funds, intensifying pressure on Brussels amid growing geopolitical tensions with BRICS nations.</div> <div class=”single-authors”>By <span id=”authorname”></span></div>
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<p>As the war in Ukraine grinds toward its fourth winter, a parallel conflict is being fought not in the trenches of the Donbas, but in Brussels. The weapon of choice is neither artillery nor drones, but sovereign debt and international banking law. At the center of this financial storm lies a cache of wealth: nearly €200 billion in Russian Central Bank assets, immobilized since the onset of the full-scale invasion in 2022.</p>

<p>The European Union has moved beyond merely freezing these funds. In a landmark and legally perilous shift, the bloc has begun to actively <a href=”https://www.reuters.com/business/finance/how-will-west-use-russias-frozen-assets-2025-10-02/#:~:text=This%20number%20does%20not%20include,the%20second%20quarter%20of%202026.” target=”_blank” rel=”noreferrer noopener nofollow”>utilize</a> the profits generated by this capital to fund Ukraine’s defense and reconstruction. This strategy, however, has exposed deep fissures within the EU and placed a singular, private Belgian company, <a href=”https://www.euroclear.com/about/en.html” target=”_blank” rel=”noreferrer noopener nofollow”>Euroclear</a>, in the geopolitical crosshairs.</p>

<h2 class=”wp-block-heading”>The vault: Euroclear and the mechanics of immobilization</h2>

<p>To understand the scale of the situation, one must understand the custodian holding the keys. Euroclear is not a bank in the traditional consumer sense; it is a Central Securities Depository (CSD), a critical piece of the “plumbing” that underpins the global financial system. Headquartered in Brussels, Belgium, and employing approximately 6,000 people, Euroclear settles securities transactions for stock exchanges and major financial institutions, ensuring that when a bond or share is traded, the ownership transfers and the cash is delivered.</p>

<p>A consortium of major international financial players owns Euroclear. Its shareholder registry includes <em>Caisse de Dépôts</em> (a French public-sector financial institution), GIC (the sovereign-wealth fund of Singapore), Euronext (the pan-European stock exchange) and Sicovam, the French central securities custodian (now integrated into the group structure but historically a key stakeholder).</p>

<p>The sheer volume of assets flowing through Euroclear is difficult to visualize. At the end of the third quarter (Q3) of 2025, Euroclear held a staggering <a href=”https://www.euroclear.com/newsandinsights/en/press/2025/mr-29-strong-third-quarter-results.html” target=”_blank” rel=”noreferrer noopener nofollow”>€42.5 trillion</a> in custodial assets. Much of this sum is held on behalf of clients — pension funds, central banks and commercial banks — and does not sit on Euroclear’s own balance sheet.</p>

<p>However, income generated by Russian-owned securities does end up on Euroclear’s books. As of the latest financial disclosures, Euroclear Bank’s own balance sheet stood at €229 billion. Of this amount, a massive €194 billion — nearly 85% — is classified as “related to sanctioned Russian assets.” These are primarily maturing bonds and coupon payments belonging to the Central Bank of Russia that sanctions have blocked. Unable to be transferred back to Moscow, this cash piles up in Belgium, requiring reinvestment.</p>

<h2 class=”wp-block-heading”>The “windfall”: turning cash into weapons</h2>

<p>In the first half (H1) of 2025 alone, these immobilized Russian assets generated <a href=”https://ubn.news/euroclears-income-from-frozen-russian-assets-dropped-by-21-in-the-first-half-of-2025/” target=”_blank” rel=”noreferrer noopener nofollow”>€2.7 billion</a> in interest income. Under normal circumstances, this profit would belong to the client (Russia). However, the EU <a href=”https://www.forbes.com/sites/andyjsemotiuk/2025/10/23/using-300-billion-russian-frozen-assets-to-pay-for-ukraine-war-losses/” target=”_blank” rel=”noreferrer noopener nofollow”>argues</a> that these “windfall profits” are not sovereign assets but rather a byproduct of the sanctions regime itself.</p>

<p>Following legislation <a href=”https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=OJ:L_202401469″ target=”_blank” rel=”noreferrer noopener nofollow”>passed</a> in May 2024, the EU formalized a mechanism to seize these profits. Of the €2.7 billion earned in H1 2025, <a href=”https://ec.europa.eu/commission/presscorner/detail/en/mex_25_1953″ target=”_blank” rel=”noreferrer noopener nofollow”>€1.8 billion</a> was declared a “windfall contribution.” After Belgian corporate taxes and management fees were deducted, a net total of €1.6 billion was paid out to the EU Commission.</p>

<p>The money is transferred to the Ukraine Facility and the European Peace Facility (EPF), where it is used to directly reimburse EU member states for weapons shipments to Kyiv and to fund the purchase of new ammunition and air defense systems. In effect, the EU has successfully engineered a system where Russia’s own sovereign wealth is partially financing the war effort against it.</p>

<h2 class=”wp-block-heading”>The Belgian resistance: fear of the “Euroclear run”</h2>

<p>While the EU Commission in Brussels pushes for aggressive use of these funds, the Belgian government, located just a few miles away, has urged extreme caution. Belgium finds itself in the uncomfortable position of being the sole guardian of the vast majority of Russia’s frozen wealth.</p>

<p>Belgium’s resistance is not rooted in sympathy for Moscow, but in fear for the stability of its financial sector and the Euro itself. The Belgian government, along with Euroclear’s management, <a rel=”nofollow” href=”https://www.npr.org/2025/12/03/g-s1-100225/belgium-rejects-plan-frozen-russian-assets#:~:text=toggle%20caption,major%20financial%20and%20legal%20risks.'”>s</a><a href=”https://www.npr.org/2025/12/03/g-s1-100225/belgium-rejects-plan-frozen-russian-assets#:~:text=toggle%20caption,major%20financial%20and%20legal%20risks.'” target=”_blank” rel=”noreferrer noopener nofollow”>t</a><a rel=”nofollow” href=”https://www.npr.org/2025/12/03/g-s1-100225/belgium-rejects-plan-frozen-russian-assets#:~:text=toggle%20caption,major%20financial%20and%20legal%20risks.'”>rongly opposes</a> the full confiscation of the principal assets (the €194 billion itself), as opposed to just the interest profits.</p>

<p>The primary concern is legal precedent and “capital flight.” If the EU were to seize the principal assets, it would cross a Rubicon in international law, effectively declaring that sovereign property is no longer immune. Belgium fears this would send a shockwave through the Global South. Large international asset owners — such as Saudi Arabia, China, Brazil or Indonesia — might look at the precedent and decide that the Eurozone is no longer a safe haven for their reserves.</p>

<p>If these nations were to move their securities custody from Euroclear (EU) to competitors in Dubai, Hong Kong or a potential future BRICS-created depository, it could trigger a “run” on Euroclear. Given that Euroclear holds €42.5 trillion in assets, even a partial exodus would be catastrophic for European capital markets.</p>

<p>Furthermore, Belgium fears it would be left holding the bag for the inevitable legal retaliation. Russia has already filed dozens of <a rel=”nofollow” href=”https://www.theguardian.com/world/2025/dec/15/russia-damages-euroclear-seized-assets-eu-ukraine”>law</a><a href=”https://www.theguardian.com/world/2025/dec/15/russia-damages-euroclear-seized-assets-eu-ukraine” target=”_blank” rel=”noreferrer noopener nofollow”>s</a><a rel=”nofollow” href=”https://www.theguardian.com/world/2025/dec/15/russia-damages-euroclear-seized-assets-eu-ukraine”>uits</a> in Russian courts against Euroclear, seizing the entity’s meager assets within Russia. Belgium worries that if the principal is confiscated, it will face decades of litigation and potential liability for billions of euros, potentially bankrupting the custodian without an explicit backstop from the rest of the EU.</p>

<h2 class=”wp-block-heading”>The legal hammer: triggering Article 122</h2>

<p>Recognizing that unanimity on Russia policy is becoming impossible due to resistance from member states like Hungary and Slovakia, the EU Commission has resorted to a powerful and controversial legal tool: <a href=”https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2025)769579″ target=”_blank” rel=”noreferrer noopener nofollow”>Article 122</a> of the Treaty on the Functioning of the European Union (TFEU).</p>

<p>Traditionally designed for economic emergencies (such as the energy crisis or natural disasters), Article 122 allows the Council to adopt measures by a qualified majority, bypassing the need for unanimous consent.</p>

<p>This month, the EU <a href=”https://www.euronews.com/my-europe/2025/12/11/eu-triggers-emergency-clause-to-indefinitely-immobilise-russian-assets” target=”_blank” rel=”noreferrer noopener nofollow”>triggered</a> Article 122 to fundamentally alter the sanctions regime. Previously, sanctions on Russian assets had to be renewed every six months by a unanimous vote. This gave leaders like Viktor Orbán of Hungary a biannual opportunity to hold the bloc hostage, threatening to veto the renewal unless concessions were made elsewhere.</p>

<p>By invoking Article 122, the EU has moved to freeze the assets indefinitely until Russia ends the war and compensates Ukraine. This move serves two purposes:</p>

<ol class=”wp-block-list”>
<li>Political Insulation: It removes the assets from the six-month veto cycle, locking them down regardless of shifting political winds in Budapest or Bratislava.</li>

<li>Collateralization: It provides the legal certainty needed to use the assets as collateral for larger loans. If the assets are guaranteed to remain frozen for years, G7 nations can issue “Reparations Loans” to Ukraine, to be repaid by the future income streams (or the eventual confiscation) of the Russian funds.</li>
</ol>

<p>The implication of using Article 122 is profound. It signals a shift in the EU toward a more federalized, majority-rule foreign policy, much to the chagrin of smaller, neutrality-inclined states.</p>

<h2 class=”wp-block-heading”>The geopolitical fallout: BRICS+ and the Euro</h2>

<p>The aggressive utilization of these assets has not gone unnoticed in Beijing, Riyadh or Brasília. For the BRICS+ nations, the “weaponization of finance” confirms their long-held suspicions about the Western-led order.</p>

<p>The immediate impact has been a “quiet diversification.” While a wholesale dumping of the Euro has not occurred — simply because there are few liquid alternatives to the Dollar and Euro — trust in the EU as a neutral arbiter of capital has eroded. Central banks in the Global South are increasingly <a href=”https://www.phoenixrefining.com/blog/central-banks-are-planning-to-boost-gold-reserves-and-trim-dollar-holdings#:~:text=Central%20Banks%20Are%20Planning%20to,nations%20like%20Qatar%20and%20Egypt.” target=”_blank” rel=”noreferrer noopener nofollow”>repatriating</a> gold reserves and exploring non-Euro settlement mechanisms for trade.</p>

<p>The danger for the Euro is slow but existential. If the perception solidifies that Euro-denominated assets are subject to political seizure, the Euro’s status as an alternative reserve currency could diminish over the next decade. This would raise borrowing costs for all European governments, as demand for European debt softens. Belgium’s resistance is essentially a warning: Do not sacrifice our long-term financial credibility for a short-term cash injection for Ukraine.</p>

<h2 class=”wp-block-heading”>Alternative legal avenues</h2>

<p>Critics of the EU’s approach argue that there were other, perhaps more legitimate, paths to making Russia pay.</p>

<ol class=”wp-block-list”>
<li>International Reparations Mechanism: The standard path would be a ruling by the International Court of Justice (ICJ) mandating reparations. However, Russia does not recognize the court’s jurisdiction in this matter, and enforcement would still require the seizure of assets, bringing the EU back to the same legal hurdle.</li>

<li>The Countermeasures Doctrine: Legal scholars have <a href=”https://www.lawfaremedia.org/article/the-repo-act-confiscating-russian-state-assets-consistent-with-u.s.-and-international-law” target=”_blank” rel=”noreferrer noopener nofollow”>argued</a> that under international law, states can take “countermeasures” against an aggressor to induce compliance. This theory posits that seizing assets is a lawful countermeasure to Russia’s illegal invasion. The US has largely backed this interpretation, but European legal scholars (and the Belgian government) remain skeptical, viewing it as a slippery slope that blurs the line between executive action and judicial process.</li>
</ol>

<h2 class=”wp-block-heading”>The Trump factor: pressure from across the Atlantic</h2>

<p>Hovering over this entire debate is the shadow of the White House. With Donald Trump in office in late 2025, the dynamic has shifted dramatically. The Trump administration has made it clear that American taxpayers should no longer foot the primary bill for a war in Europe’s backyard.</p>

<p>Pressure from Washington has been intense. The US has pushed the EU to stop “dithering” with interest payments and seize the full €194 billion principal to fund the war effort, thereby allowing the US to reduce its own financial aid. Trump’s “Peace through Strength” rhetoric implies that if Europe wants Ukraine to survive, Europe must pay for it, using Russian President Vladimir Putin’s money.</p>

<p>This pressure partially explains the EU’s rush to trigger Article 122 and lock in the loan mechanisms this month. European leaders fear that if they do not present a self-sustaining funding model for Ukraine soon, the Trump administration might cut aid entirely or force a peace deal on terms unfavorable to Kyiv. The mobilization of Euroclear’s assets is, in many ways, Europe’s attempt to “Trump-proof” the defense of Ukraine.</p>

<h2 class=”wp-block-heading”>The €194 billion question</h2>

<p>The situation at Euroclear represents a defining moment for the intersection of law, finance and war. The EU has managed to uncork a stream of billions to aid Ukraine, paying for weapons with the aggressor’s own accrued interest. Yet, in doing so, it has ventured into uncharted legal territory, risking the reputation of its financial system and bypassing its own democratic unanimity rules.</p>

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<p>For now, the €1.6 billion transferred to Ukraine is a lifeline. But as the war drags on and reconstruction costs mount into the hundreds of billions, the temptation to seize the full €194 billion sitting in Brussels will only grow. Belgium stands as the final gatekeeper, holding the line against a move that could redefine the concept of sovereign property forever. Whether that line holds against the combined pressure of a desperate Kyiv, a federalizing Brussels and an isolationist Washington remains the €194 billion question.</p>

<p><em>[</em><a href=”https://www.linkedin.com/in/kaitlyn-diana-aab997278/” target=”_blank” rel=”noreferrer noopener nofollow”><em>Kaitlyn Diana</em></a><em> edited this piece.]</em></p>

<p><strong>The views expressed in this article are the author’s own and do not necessarily reflect Fair Observer’s editorial policy.</strong></p>
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counter: {
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commentmaxcount : 1500,
replymaxcount : 1500,
commentmincount : 1,
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wc_be_the_first_text: “Be the First to Comment!”,
wc_comment_join_text: “Join the discussion”,
theme: ‘snow’,
debug: ‘error’
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/* .popup_loginmodel .dm-fo-login-box {
max-width: 420px !important
} */
</style>

jQuery(‘.close-popup-btn-signup’).click(function () {
jQuery(‘#myModalPopUpsignup’).hide();

});

jQuery(‘#myBtn , .sign_up_heaer’).click(function () {
jQuery(‘#myModalPopUpsignup’).show();
});

var path = location.pathname;
var popup_not_allowed_in_paths = [“/fo/donate/”, “/fo/support-fo/”, “/fo/membership-account/membership-levels/”,
“/fo/membership-account/membership-checkout/?level=2”, “/fo/membership-account/membership-checkout/?level=1”,
“/fo/contact/”, “payment-success”
];
var isPopupOnPathAllowed = true;
if (popup_not_allowed_in_paths.includes(path)) {
isPopupOnPathAllowed = false;
}

if (jQuery.cookie(‘whenToShowDialog’) != “yesss” && isPopupOnPathAllowed) {
jQuery(window).scroll(function () {
var available, percentage_of_page, half_screen, height;
available = jQuery(document).height();
percentage_of_page = 0.25;
half_screen = available * percentage_of_page;
height = jQuery(window).scrollTop();
if (height > half_screen) {

if (jQuery.cookie(‘whenToShowDialog’) != “yesss”) {
jQuery(“#myModalPopUp”).css(‘display’, ‘flex’);
jQuery.cookie(“whenToShowDialog”, “yesss”);
}
}
});
} else {
jQuery(‘#myModalPopUp’).hide();
}

var dwnldbtn = jQuery(“#download_product_popup_open”);
dwnldbtn.click(() => {
console.log(‘be’);
jQuery(‘#download_product_popup’).show();
});

jQuery(‘#download_product_popup_open’).click(function () {
console.log(‘hellof’);
jQuery(‘#download_product_popup’).fadeIn();
});
jQuery(‘.download_product_popup_close’).click(function () {
jQuery(‘#download_product_popup’).fadeOut();
});
jQuery(‘.download_product_popup_close’).click(function () {
jQuery(‘#download_product_popup’).fadeOut();
});

var container = jQuery(“#download_product_popup”);
container.click((e) => {
if (e.target.id == ‘download_product_popup’) {
jQuery(‘#download_product_popup’).hide();
}
});

jQuery(‘.close-popup-btn’).click(function () {
// $.cookie(‘whenToShowDialog’, “yesss”);
display(“whenToShowDialog”, “yesss”);
jQuery(‘#myModalPopUp’).hide();
});

jQuery(‘.other_donation_amount’).keyup(function (e) {
var $otherRadio = jQuery(‘#other’);
var $otherAmountSection = jQuery(‘.other_donation_amount_section’);

$otherAmountSection.show();
$otherRadio.prop(‘checked’, true);

var value = jQuery(this).val();
jQuery(‘#donation_amount’).html(‘$’ + value);
$otherRadio.val(value);
jQuery(‘#amount’).val(value);
});

jQuery(‘#other’).change(function () {
if (jQuery(this).is(‘:checked’)) {
jQuery(‘.other_donation_amount_section’).show();
} else {
jQuery(‘.other_donation_amount_section’).hide();
}
});
});

<!– –>
jQuery(document).click(function () {

/* login popup */
jQuery(‘#closebtnlogin’).click(function () {
jQuery(“#loginmodal”).hide();
});
var logincontainer = jQuery(“.dm-fo-login-box”);
if (!logincontainer.is(event.target) && !logincontainer.has(event.target).length) {
jQuery(“#loginmodal”).hide();
}
var loginbtn = jQuery(“.fo-login-link”);
if (!loginbtn.is(event.target) && !loginbtn.has(event.target).length) {

} else {
var loginModal = jQuery(“#loginmodal”);
loginModal.find(‘.popup-form input’).val(”); // Clear all input values (optional)
loginModal.find(‘.popup-form’).hide(); // Hide all forms within #loginmodal
loginModal.find(‘.error-message’).remove(); // Remove all error messages within #loginmodal
loginModal.find(‘.input-error’).removeClass(‘input-error’); // Remove error class within #loginmodal
loginModal.find(‘#login-form’).show(); // Show the target form within #loginmodal

loginModal.show(); // Show the login modal
}

/* signupbutton popup */
var signupcontainer = jQuery(“#modal-content-signup”);
if (!signupcontainer.is(event.target) && !signupcontainer.has(event.target).length) {
jQuery(“#myModalPopUpsignup”).hide();
}
var signupcontainerbtn = jQuery(“#myBtn”);
if (!signupcontainerbtn.is(event.target) && !signupcontainerbtn.has(event.target).length) {

} else {
jQuery(“#myModalPopUpsignup”).css(‘display’, ‘flex’);
}

/* signupbutton onscroll popup */
var container = jQuery(“#modal-content-scroll”);
if (!container.is(event.target) && !container.has(event.target).length) {
var displayval = jQuery(‘#myModalPopUp’).css(‘display’);
if (displayval == ‘flex’) {
jQuery(“#myModalPopUp”).hide();
display(“whenToShowDialog”, “yesss”);
}
}

jQuery(‘#other’).click(function () {
jQuery(‘.other_donation_amount_section’).show();
});

jQuery(‘.other_donation_amount’).keyup(function (e) {
var activeElement = document.getElementsByClassName(“donation-amount-box”)[0].getElementsByClassName(“active”)[0];
if (activeElement) {
activeElement.classList.remove(‘active’);
}

var value = $(‘.other_donation_amount’).val();
jQuery(‘#other’).val(value);
jQuery(‘#donation_amount’).html(‘$’ + value);
jQuery(‘#amount’).val(value);
jQuery(‘#paypalamount’).val(value);
jQuery(‘#monthly’).val(value);
})
});

jQuery(document).ready(function () {
jQuery(‘.fo-login-link.btn-popup-footer a’).on(‘click’, function (e) {
e.preventDefault(); // Prevent the default behavior of the link

jQuery(‘.btn-popup-footer-login’).addClass(‘pop-active’); // Add the custom class
});
});

jQuery(document).ready(function () {
jQuery(‘.btn-popup-footer-login-close’).on(‘click’, function () {
jQuery(‘.popup_loginmodel.btn-popup-footer-login’).removeClass(‘pop-active’);
});
});

jQuery(document).ready(function ($) {
jQuery(“.total_counts h1”).click(function () {
jQuery(“.fo-search-popup”).addClass(“active”);
});
});

jQuery(document).ready(function () {
jQuery(‘.tml-pwd-wrap’).append(‘<div id=”show_hide_div” class=”togglepwd” onclick=”showPassword(event)”><i class=”bi bi-eye-slash-fill”></i></div>’);
jQuery(‘meta[property=”og:image:height”]’).attr(“content”, 400);
jQuery(‘meta[property=”og:image:width”]’).attr(“content”, 400);

//Open Bookmark Model
jQuery(‘#screen, #modal’).hide();
jQuery(‘#trigger-modal ,#trigger-modal2’).click(function () {
jQuery(‘#modal’).show();
});
jQuery(‘.x’).click(function () {
jQuery(‘#screen, #modal’).hide();
});

window.addEventListener(‘click’, function (e) {
if (document.getElementById(‘modal’).contains(e.target)) {
jQuery(“#modal”).hide();
} else { }
});

});

function showPassword1() {

var pass = document.getElementById(“upassword”);
if (pass.type === “password”) {
pass.type = “text”;
document.getElementById(“show_hide_div_reg1”).innerHTML = “Hide”;
} else {
pass.type = “password”;
document.getElementById(“show_hide_div_reg1”).innerHTML = “Show”;
}
}

function showPassword2() {

var pass = document.getElementById(“upasswordconfirm”);
if (pass.type === “password”) {
pass.type = “text”;
document.getElementById(“show_hide_div_reg2”).innerHTML = “Hide”;
} else {
pass.type = “password”;
document.getElementById(“show_hide_div_reg2”).innerHTML = “Show”;
}
}

jQuery(“.emaillink”).click(function (e) {
e.preventDefault();
jQuery(“#contact_us_form”).css(‘display’, ‘flex’);
});

jQuery(‘#contact_us_form’).click((e) => {
if (e.target.id === “contact_us_form”) {
jQuery(“#contact_us_form”).css(‘display’, ‘none’);
}
});

</script>

<!– Scroll footer fixed –>

jQuery(function ($) {
$(window).scroll(function () {
var scrollOffset = $(window).scrollTop();
if (scrollOffset > 400) { // change 100 to the desired scroll offset
$(‘.fixed-footer-newsletter’).addClass(‘active’);
} else {
$(‘fixed-footer-newsletter’).removeClass(‘none’);
}
});
$(document).ready(function () {
$(“.up-down-toggle-btn svg”).click(function () {
$(“.fixed-footer-newsletter”).toggleClass(“hide”);
if ($(“.fixed-footer-newsletter”).hasClass(‘hide’)) {
localStorage.setItem(‘hideClass’, ‘true’);
} else {
localStorage.removeItem(‘hideClass’);
}
});

var hideClass = localStorage.getItem(‘hideClass’);
if (hideClass === ‘true’) {
$(‘.fixed-footer-newsletter’).addClass(‘hide’);
}

});
});
</script>

<!– new custom script –>

<!– author slider –>

<!– FO Newsletter –>

jQuery(function($){
$(“.newsletters-click”).on(“click”, function (e) {
$(this).addClass(‘active’);
});

$(‘#amount_50’).click(function () {
$(‘.amount’).removeAttr(‘checked’);
$(‘#other_pay’).val(0);
$(‘#other_amount_pay’).val(0);
$(this).attr(‘checked’, ‘checked’)
});

$(‘#amount_100’).click(function () {
$(‘.amount’).removeAttr(‘checked’);
$(‘#other_pay’).val(0);
$(‘#other_amount_pay’).val(0);
$(this).attr(‘checked’, ‘checked’)
});

$(‘#amount_500’).click(function () {
$(‘.amount’).removeAttr(‘checked’);
$(‘#other_pay’).val(0);
$(‘#other_amount_pay’).val(0);
$(this).attr(‘checked’, ‘checked’)
});

$(‘#amount_1000’).click(function () {
$(‘.amount’).removeAttr(‘checked’);
$(‘#other_pay’).val(0);
$(‘#other_amount_pay’).val(0);
$(this).attr(‘checked’, ‘checked’)
});

$(‘#other_pay’).change(function () {
$(‘.amount’).removeAttr(‘checked’);
$(this).attr(‘checked’, ‘checked’)
});

$(“#other_amount_pay”).on(“input”, function () {
var inputValue = $(this).val();
if (inputValue !== “”) {
$(‘#amount_50’).removeAttr(‘checked’);
$(‘#amount_100’).removeAttr(‘checked’);
$(‘#amount_500’).removeAttr(‘checked’);
$(‘#amount_1000’).removeAttr(‘checked’);
$(‘#other_pay’).val(inputValue);

$(“#other_pay”).prop(“checked”, true);
}
});

});

/* input type number validation */

const numericInput = document.getElementById(‘other_donation_amount’);

if (numericInput) {
numericInput.addEventListener(‘input’, function (e) {
// Get the current input value
const inputValue = e.target.value;

// Remove any non-numeric characters
const numericValue = inputValue.replace(/[^0-9]/g, ”);

// Update the input value with the numeric value
e.target.value = numericValue;
});

}

</script>
<script type=”sortdDeferScript”>
jQuery(document).ready(function () {
jQuery(“.share-btn”).click(function () {
jQuery(“.m-share-events”).toggleClass(“active”);
});
});

jQuery(function($){
// For Login Form
if ($(‘form[name=”login”]’).length) {
const loginForm = $(‘form[name=”login”]’);
// Dynamically remove labels and add placeholders for Login Form
$(‘form[name=”login”] label[for=”user_login”]’).remove();
$(‘form[name=”login”] #user_login’).attr(‘placeholder’, ‘Email or Username’);

$(‘form[name=”login”] label[for=”user_pass”]’).remove();
$(‘form[name=”login”] #user_pass’).attr(‘placeholder’, ‘Password’);

// Form validation and error handling for Login Form
$(‘form[name=”login”]’).on(‘submit’, function (e) {
e.preventDefault(); // Prevent form submission for validation

let isValid = true;

$(this).find(‘input[type=”text”], input[type=”password”]’).each(function () {
const input = $(this);
const value = input.val().trim();

// Remove previous error message and red border
input.closest(‘.tml-field-wrap’).prev(‘.error-message’).remove();
input.removeClass(‘input-error’);

// Determine field name for the error message
const fieldName = input.attr(‘id’) === ‘user_login’ ? ‘Email or Username’ :
input.attr(‘id’) === ‘user_pass’ ? ‘Password’ :
‘This field’;

// Add error if the field is empty
if (!value) {
isValid = false;
input.closest(‘.tml-field-wrap’).before(`<div class=”error-message”>${fieldName} is required.</div>`);
input.addClass(‘input-error’);
}
});

// Submit the form if valid
return isValid;
});

// Remove error message and red border on input for Login Form
$(document).on(‘input’, ‘.input-error’, function () {
$(this).removeClass(‘input-error’);
$(this).closest(‘.tml-field-wrap’).prev(‘.error-message’).remove();
});
}

// For Lost Password Form
if ($(‘form[name=”lostpassword”]’).length) {
// Dynamically remove labels and add placeholders for Lost Password Form
$(‘form[name=”lostpassword”] label[for=”user_login”]’).remove();
$(‘form[name=”lostpassword”] #user_login’).attr(‘placeholder’, ‘Email or Username’);

// Change the submit button text for Lost Password form
$(‘form[name=”lostpassword”] button[type=”submit”]’).text(‘Reset Password’);

// Form validation and error handling for Lost Password Form
$(‘form[name=”lostpassword”]’).on(‘submit’, function (e) {
e.preventDefault(); // Prevent form submission for validation

let isValid = true;

$(this).find(‘input[type=”text”]’).each(function () {
const input = $(this);
const value = input.val().trim();

// Remove previous error message and red border
input.closest(‘.tml-field-wrap’).prev(‘.error-message’).remove();
input.removeClass(‘input-error’);

// Determine field name for the error message
const fieldName = input.attr(‘id’) === ‘user_login’ ? ‘Email or Username’ : ‘This field’;

// Submit the form if valid
return isValid;
});

// Remove error message and red border on input for Lost Password Form
$(document).on(‘input’, ‘.input-error’, function () {
$(this).removeClass(‘input-error’);
$(this).closest(‘.tml-field-wrap’).prev(‘.error-message’).remove();
});
}

$(document).ajaxSuccess(function (event, xhr, settings) {
// Check if the request URL is the one from the lostpassword form (or another condition based on your URL)
if (settings.url.indexOf(‘forgot-the-password’) !== -1) {
var response = JSON.parse(xhr.responseText);

if (response.success) {
// const successMessage = response.data.notice;
const successMessage = “we have sent a link to your email to reset your password.”;
// Toggle visibility of the before and after sections
$(‘#forgot-password-form .forget-password-before’).hide();
$(‘#forgot-password-form .forget-password-after’).fadeIn();

} else {
// const errorMessage = response.data.errors;
// Clear previous error messages
$(‘form[name=”lostpassword”] .error-message’).remove();
$(‘form[name=”lostpassword”] .input-error’).removeClass(‘input-error’);

const errorMessage = ‘Email address or username is not registered’;
// Find the input fields for user_login and user_pass
const userLoginInput = $(‘form[name=”lostpassword”] #user_login’);

userLoginInput.closest(‘.tml-field-wrap’).before(`<div class=”error-message”>${errorMessage}</div>`);
userLoginInput.addClass(‘input-error’);

}
}

if (settings.url.indexOf(‘login’) !== -1) {
var response = JSON.parse(xhr.responseText);

if (response.success) {
// $(‘form[name=”login”]’).after(‘<div class=”success-message”>Login successful! Redirecting…</div>’);
} else {
// Clear previous error messages
$(‘form[name=”login”] .error-message’).remove();
$(‘form[name=”login”] .input-error’).removeClass(‘input-error’);

const errorMessage = response.data.errors; // Assuming this is an HTML string
// Extract plain text error messages from the response
const extractedErrorMessage = $(errorMessage).text().trim();

// Determine where to display the error based on keywords in the message
const userLoginInput = $(‘form[name=”login”] #user_login’);
const userPassInput = $(‘form[name=”login”] #user_pass’);

$(‘form[name=”login”]’).prepend(`<div class=”error-message”>Email address or password is incorrect.</div>`);
userLoginInput.addClass(‘input-error’);
userPassInput.addClass(‘input-error’);
}
}

});

// Switch Between Forms (Login and Forgot Password)
$(‘.switch-form’).on(‘click’, function (e) {
e.preventDefault();
const target = $(this).data(‘target’);
$(‘.popup-form’).hide(); // Hide all forms
$(‘.error-message’).remove(); // Remove all error messages
$(‘.input-error’).removeClass(‘input-error’); // Remove input error classes
$(‘.popup-form input’).val(”); // Clear all input values (optional)

// Show the target form
if (target === ‘forgot-password-form’) {
// Always show forget-password-before when switching to forgot-password-form
$(‘#forgot-password-form .forget-password-after’).hide();
$(‘#forgot-password-form .forget-password-before’).show();
}

$(‘#’ + target).fadeIn(); // Show the target form
});
});
</script>

<!– <script>
document.addEventListener(“DOMContentLoaded”, function () {
// Select the “I Accept” button by its ID or class (adjust selector based on your HTML)
const acceptButton = document.querySelector(“#cookie_action_close_header”); // Replace with the actual button’s class or ID

if (acceptButton) {
acceptButton.addEventListener(“click”, function () {
// Set the cookie with site-wide path and a long expiration date
document.cookie = “viewed_cookie_policy=yes; path=/; expires=Fri, 31 Dec 9999 23:59:59 GMT;”;
console.log(“Cookie consent accepted and cookie set.”);
});
}
});
</script> –>

</script>

class WaveformAudioPlayer {
constructor(playerId) {
this.playerId = playerId;
this.audio = document.getElementById(`audioPlayer_${playerId}`);
this.playBtn = document.getElementById(`playBtn_${playerId}`);
this.playTriangle = document.getElementById(`playTriangle_${playerId}`);
this.pauseBars = document.getElementById(`pauseBars_${playerId}`);
this.currentTime = document.getElementById(`currentTime_${playerId}`);
this.totalTime = document.getElementById(`totalTime_${playerId}`);
this.waveformContainer = document.getElementById(`waveformContainer_${playerId}`);
this.waveformProgress = document.getElementById(`waveformProgress_${playerId}`);
this.waveformBars = document.getElementById(`waveformBars_${playerId}`);
this.menuBtn = document.getElementById(`menuBtn_${playerId}`);

this.isPlaying = false;
this.waveformData = [];
this.totalBars = 200; // Number of waveform bars

this.initWaveform();
this.initEventListeners();
this.updateTotalTime();
}

initWaveform() {
// Generate random waveform data (in real app, you’d analyze the audio)
this.waveformData = Array.from({ length: this.totalBars }, () => {
return Math.random() * 40 + 5; // Random height between 5-45px
});

// Create waveform bars
this.waveformBars.innerHTML = ”;
this.waveformData.forEach((height, index) => {
const bar = document.createElement(‘div’);
bar.className = ‘waveform-bar’;
bar.style.height = `${height}px`;
bar.dataset.index = index;
this.waveformBars.appendChild(bar);
});
}

initEventListeners() {
// Play/Pause button
this.playBtn.addEventListener(‘click’, () => this.togglePlayPause());

// Audio events
this.audio.addEventListener(‘loadedmetadata’, () => this.updateTotalTime());
this.audio.addEventListener(‘timeupdate’, () => this.updateProgress());
this.audio.addEventListener(‘ended’, () => this.audioEnded());

// Waveform container click for seeking
this.waveformContainer.addEventListener(‘click’, (e) => this.seek(e));

// Menu button
this.menuBtn.addEventListener(‘click’, () => this.showMenu());
}

togglePlayPause() {
// Pause all other players first
window.pauseAllPlayersExcept(this.playerId);

if (this.isPlaying) {
this.pause();
} else {
this.play();
}
}

play() {
this.audio.play().then(() => {
this.isPlaying = true;
this.updatePlayButton();
}).catch(error => {
console.error(‘Error playing audio:’, error);
});
}

pause() {
this.audio.pause();
this.isPlaying = false;
this.updatePlayButton();
}

updatePlayButton() {
if (this.isPlaying) {
this.playTriangle.style.display = ‘none’;
this.pauseBars.style.display = ‘block’;
} else {
this.playTriangle.style.display = ‘block’;
this.pauseBars.style.display = ‘none’;
}
}

updateProgress() {
if (this.audio.duration) {
const progress = (this.audio.currentTime / this.audio.duration) * 100;
this.waveformProgress.style.width = `${progress}%`;
this.currentTime.textContent = this.formatTime(this.audio.currentTime);

// Update active bars
const activeBars = Math.floor((progress / 100) * this.totalBars);
const bars = this.waveformBars.querySelectorAll(‘.waveform-bar’);
bars.forEach((bar, index) => {
if (index <= activeBars) {
bar.classList.add(‘active’);
} else {
bar.classList.remove(‘active’);
}
});
}
}

updateTotalTime() {
if (this.audio.duration) {
this.totalTime.textContent = this.formatTime(this.audio.duration);
}
}

seek(e) {
const rect = this.waveformContainer.getBoundingClientRect();
const percent = (e.clientX – rect.left) / rect.width;
const newTime = percent * this.audio.duration;

if (newTime >= 0 && newTime <= this.audio.duration) {
this.audio.currentTime = newTime;
}
}

formatTime(seconds) {
if (!seconds || !isFinite(seconds)) return ’00:00′;

const minutes = Math.floor(seconds / 60);
const remainingSeconds = Math.floor(seconds % 60);
return `${minutes.toString().padStart(2, ‘0’)}:${remainingSeconds.toString().padStart(2, ‘0’)}`;
}

audioEnded() {
this.isPlaying = false;
this.updatePlayButton();
this.waveformProgress.style.width = ‘0%’;
this.currentTime.textContent = ’00:00′;

// Reset all bars
const bars = this.waveformBars.querySelectorAll(‘.waveform-bar’);
bars.forEach(bar => bar.classList.remove(‘active’));
}

showMenu() {
console.log(`Menu clicked for player ${this.playerId} – implement additional features here`);
// Add your menu functionality here
}

// Method to change audio source
changeAudio(src) {
this.pause();
this.audio.src = src;
this.audio.load();
this.waveformProgress.style.width = ‘0%’;
this.currentTime.textContent = ’00:00′;

// Reset bars
const bars = this.waveformBars.querySelectorAll(‘.waveform-bar’);
bars.forEach(bar => bar.classList.remove(‘active’));
}
}

// Global variables to manage multiple players
window.waveformPlayers = {};

// Function to pause all players except the current one
window.pauseAllPlayersExcept = function(currentPlayerId) {
Object.keys(window.waveformPlayers).forEach(playerId => {
if (playerId !== currentPlayerId) {
window.waveformPlayers[playerId].pause();
}
});
};

// Initialize all players when DOM is loaded
document.addEventListener(‘DOMContentLoaded’, () => {
// Find all waveform audio players
const playerElements = document.querySelectorAll(‘.waveform-audio-player’);

playerElements.forEach(playerElement => {
const playerId = playerElement.dataset.playerId;
if (playerId) {
// Extract post ID from player ID (format: player_123)
const postId = playerId.replace(‘player_’, ”);
window.waveformPlayers[postId] = new WaveformAudioPlayer(postId);
}
});

// Global keyboard shortcuts
document.addEventListener(‘keydown’, (e) => {
const isEditable = e.target.isContentEditable;
if (e.code === ‘Space’ && e.target.tagName !== ‘INPUT’ && e.target.tagName !== ‘TEXTAREA’ && !isEditable) {
e.preventDefault();
// This will be handled by individual players
}
});
});
</script>

jQuery(function($){
// Prevent numbers while typing & enforce maxlength for Name
$(document).on(‘input’, ‘#contactFormCustom input[name=”your-name”]’, function(){
// allow letters, spaces, hyphen, apostrophe, limit to 50 chars
this.value = this.value.replace(/[^A-Za-zs’-]/g, ”).slice(0,50);
});

// Email field: limit to 100 characters and block spaces
$(document).on(‘input’, ‘#contactFormCustom input[name=”your-email”]’, function() {
this.value = this.value.replace(/s/g, ”).slice(0, 100);
});

});

</script>

</html>
<style>
/* Hide the view count by default */
.hidden {
display: none;
}

</style>

<p class=”hidden”>Total Views: </p>

<!– <style>
#cliSettingsPopup {display:none}
</style>
<style>
#cookie-law-info-bar,.wt-cli-cookie-bar{box-sizing:border-box;font-size:10pt;margin:0 auto;padding:10px 10px;position:absolute;text-align:center;width:100%;z-index:99999;box-shadow:rgb(0 0 0 / .5) 0 5px 10px;display:none;left:0}#cookie-law-info-again{font-size:10pt;margin:0;padding:5px 10px;text-align:center;z-index:9999;cursor:pointer;box-shadow:#161616 2px 2px 5px 2px}#cookie-law-info-bar span{vertical-align:middle}.cli-plugin-button,.cli-plugin-button:visited{display:inline-block;padding:8px 16px 8px;color:#fff;text-decoration:none;-moz-border-radius:4px;-webkit-border-radius:4px;position:relative;cursor:pointer;text-decoration:none}.cli-accept-button{font-family:Courier;font-variant:small-caps}.cli-plugin-button:hover{background-color:#111;color:#fff;text-decoration:none}.small.cli-plugin-button,.small.cli-plugin-button:visited{font-size:11px}.cli-plugin-button,.cli-plugin-button:visited,.medium.cli-plugin-button,.medium.cli-plugin-button:visited{font-size:13px;font-weight:500;line-height:1}.large.cli-plugin-button,.large.cli-plugin-button:visited{font-size:14px;padding:8px 14px 9px}.super.cli-plugin-button,.super.cli-plugin-button:visited{font-size:34px;padding:8px 14px 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only screen and (max-width:768px){.cli-settings-mobile:hover{box-shadow:none!important}.cli-settings-desktop{display:none}.cli-col-8{max-width:100%!important;width:100%!important;flex:100%!important;-ms-flex:100%!important}.cli-accordion-plusminus{float:right;font-size:22px;line-height:22px}.cli-plugin-button{margin:10px}}@media only screen and (max-width:567px){.cli-switch .cli-slider:after{display:none}.cli-tab-header a.cli-nav-link{font-size:12px}.cli-modal .cli-modal-close{right:-10px;top:-15px}}.wt-cli-iframe-placeholder{background-image:url(../images/cli_placeholder.svg);background-size:80px;max-width:100%;max-height:100%;background-position:center;background-repeat:no-repeat;background-color:#b2b0b059;position:relative;display:flex;align-items:flex-end;justify-content:center}.wt-cli-iframe-placeholder .wt-cli-inner-text{width:100%;text-align:center;padding:1rem 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(min-width:576px){.gdpr-modal .gdpr-modal-dialog{max-width:500px;margin:1.75rem auto;min-height:calc(100% – (1.75rem * 2))}}@media (min-width:992px){.gdpr-modal .gdpr-modal-dialog{max-width:900px}}.gdpr-modal-content{position:relative;display:-ms-flexbox;display:flex;-ms-flex-direction:column;flex-direction:column;width:100%;pointer-events:auto;background-color:#fff;background-clip:padding-box;border:1px solid rgb(0 0 0 / .2);border-radius:.3rem;box-sizing:border-box;outline:0}.gdpr-modal .row{margin:0 -15px}.gdpr-modal .modal-body{padding:0;position:relative;-ms-flex:1 1 auto;flex:1 1 auto}.gdpr-modal .close{position:absolute;right:10px;top:10px;z-index:1;padding:0;background-color:#fff0;border:0;-webkit-appearance:none;font-size:1.5rem;font-weight:700;line-height:1;color:#000;text-shadow:0 1px 0 #fff}.gdpr-modal .close:focus{outline:0}.gdpr-switch{display:inline-block;position:relative;min-height:1px;padding-left:70px;font-size:14px}.gdpr-switch input[type=”checkbox”]{display:none}.gdpr-switch .gdpr-slider{background-color:#e3e1e8;height:24px;width:50px;bottom:0;cursor:pointer;left:0;position:absolute;right:0;top:0;transition:.4s}.gdpr-switch .gdpr-slider:before{background-color:#fff;bottom:2px;content:””;height:20px;left:2px;position:absolute;transition:.4s;width:20px}.gdpr-switch input:checked+.gdpr-slider{background-color:#63b35f}.gdpr-switch input:checked+.gdpr-slider:before{transform:translateX(26px)}.gdpr-switch .gdpr-slider{border-radius:34px}.gdpr-switch .gdpr-slider:before{border-radius:50%}.gdpr-tab-content>.gdpr-tab-pane{display:none}.gdpr-tab-content>.active{display:block}.gdpr-fade{transition:opacity .15s 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.btn-gdpr{background-color:#0070ad;border-color:#0070ad;color:#fff;display:inline-block;font-weight:400;text-align:center;white-space:nowrap;vertical-align:middle;-webkit-user-select:none;-moz-user-select:none;-ms-user-select:none;user-select:none;border:1px solid #fff0;padding:.375rem .75rem;font-size:1rem;line-height:1.5;border-radius:.25rem;transition:color .15s ease-in-out,background-color .15s ease-in-out,border-color .15s ease-in-out,box-shadow .15s ease-in-out;box-sizing:border-box}.gdpr-tab-content p{color:#343438;font-size:14px;margin-top:0}.gdpr-tab-content h4{font-size:20px;margin-bottom:.5rem;margin-top:0;font-family:inherit;font-weight:500;line-height:1.2;color:inherit}.cli-container-fluid{padding-right:15px;padding-left:15px;margin-right:auto;margin-left:auto}.cli-row{display:-ms-flexbox;display:flex;-ms-flex-wrap:wrap;flex-wrap:wrap;margin-right:-15px;margin-left:-15px}.cli-col-4{-ms-flex:0 0 33.333333%;flex:0 0 33.333333%;max-width:33.333333%}.cli-col-8{-ms-flex:0 0 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.cli-modal-dialog{position:relative;width:auto;margin:.5rem;pointer-events:none;font-family:inherit;font-size:1rem;font-weight:400;line-height:1.5;color:#212529;text-align:left;display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center;min-height:calc(100% – (.5rem * 2))}@media (min-width:576px){.cli-modal .cli-modal-dialog{max-width:500px;margin:1.75rem auto;min-height:calc(100% – (1.75rem * 2))}}.cli-modal-content{position:relative;display:-ms-flexbox;display:flex;-ms-flex-direction:column;flex-direction:column;width:100%;pointer-events:auto;background-clip:padding-box;border-radius:.2rem;box-sizing:border-box;outline:0}.cli-modal .row{margin:0 -15px}.cli-modal-footer{position:relative}.cli-modal .modal-body{padding:0;position:relative;-ms-flex:1 1 auto;flex:1 1 auto}.cli-modal .cli-modal-close:focus{outline:0}.cli-switch{display:inline-block;position:relative;min-height:1px;padding-left:38px;font-size:14px;width:auto}.cli-switch input[type=”checkbox”]{display:block;margin:0;width:0;position:absolute!important;left:0!important;opacity:0!important}.cli-switch .cli-slider{background-color:#e3e1e8;height:20px;width:38px;bottom:0;cursor:pointer;left:0;position:absolute;right:0;top:0;transition:.4s}.cli-switch .cli-slider:before{bottom:2px;content:””;height:15px;left:3px;position:absolute;transition:.4s;width:15px}.cli-switch input:checked+.cli-slider{background-color:#28a745}.cli-switch input:checked+.cli-slider:before{transform:translateX(18px)}.cli-switch .cli-slider{border-radius:34px;font-size:0}.cli-switch .cli-slider:before{border-radius:50%}.cli-nav-pills{display:-ms-flexbox;display:flex;-ms-flex-wrap:wrap;flex-wrap:wrap;padding-left:0;margin-bottom:0;list-style:none;-ms-flex-direction:column;flex-direction:column}.cli-nav-pills,.cli-tab-content{width:100%;padding:5px 30px 5px 5px;box-sizing:border-box}@media (max-width:767px){.cli-nav-pills,.cli-tab-content{padding:30px 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Source: World Politics - fairobserver.com

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