Awaiting the finalization of the EU Council.
EU permanent representatives voted on May 8 to use proceeds from frozen Russian assets to support Ukrainian renewal and its military protection from Russian aggression.
The Belgian Presidency of the Council of the EU reported this on the social network X.
“EU ambassadors have agreed in principle on measures to deal with emergency profits received from Russia's frozen assets. The funds will go to support the reconstruction and military defense of Ukraine in the face of Russian aggression,” the message says.
European Commission representative Christian Wigand said that if EU member states can quickly reach agreement on the proposals of the European Commission and the EU High Representative on the use of proceeds from the sovereign assets of the Russian Central Bank frozen in the EU, Ukraine will be able to take advantage of the first funds from such receipts already up to 4 years.
Since the beginning of the full-scale invasion of the Russian Federation, democratic countries of the world have blocked Russian financial assets worth more than 300 billion euros. By some estimates, the majority of these assets are held in financial institutions within the European Union, particularly in Belgium.
Recall that according to open information, Euroclear currently has 192 billion euros of assets of the Russian Central Bank on its balance sheet. The EU is seeking legal mechanisms to further deal with these blocked resources, as well as the interest accrued on them, which has amounted to 5 billion euros over the past two years.
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