EU considers receiving interest on frozen assets of Russia, but without full confiscation
Kyiv • UNN
The EU agrees to confiscate interest from frozen Russian assets to create a fund to support Ukraine's recovery, without resorting to full asset confiscation.
Europeans are reaching a consensus on a more "subtle" approach to frozen Russian investments and assets. The idea is to receive interest that will be used to create a fund for Ukraine.
This is reported by UNN with reference to Euractiv.
Details
The European Union agrees to confiscate the interest generated by Russian assets frozen in the EU in support of Ukraine, but without going so far as to confiscate those assets. This was stated by Spiros Lampridis, Greece's Special National Envoy for Ukraine.
The European Union is expected to agree to confiscate Russian profits made in the bloc, a key step in supporting Ukraine. Full confiscation of assets is not yet on the table.
According to Spiros Lampridis, the Europeans have come to a consensus on a more "subtle" approach to confiscating profits from Russian investments and assets to create a fund for Ukraine.
We are going to do it. I think it's a matter of months
Compared to the roughly €500 billion-or probably much more-that is needed to rebuild Ukraine, he estimates that this move will bring in between €50 and €60 billion.
It's a small thing, but still, in fact, it's at least a move to show them - look what you've done
Recall
Ukrainian President Zelenskiy calls for the confiscation of frozen Russian assets to finance defense against Russian terrorism.
Poland's foreign minister calls for arming Ukraine and deterring Putin to prevent a larger global conflict.
