The European Commission wants to transfer billions of euros of profits from frozen assets of the russian federation to Ukraine - media

The European Commission plans to propose the confiscation of 27 billion euros of profits from russia's sovereign assets frozen in Europe to support Ukraine. This was stated by senior EU officials on condition of anonymity to The Guardian   , UNN reports.

Details 

According to the sources, the European Commission officials are ready to put forward a legally sound proposal for consideration by the EU member states, possibly before the EU leaders' summit in Brussels next Thursday.

It is noted that frozen assets in Europe are likely to generate between EUR 15 and 20 billion in profit after tax in the period up to the end of 2027, depending on the dynamics of global interest rates.

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The publication explains that while officials hope for an agreement on the withdrawal of profits, they do not yet expect an agreement on how the money should be used. Some states are currently opposed to using the money to fund the Ukrainian army, preferring to spend it on reconstruction and humanitarian efforts.

Addendum

Sources say that the European Commission will not propose options for the use of this money yet.

This means that they may agree in principle to use the revenue, but then have a further discussion about where the money can be used in accordance with the constitution of each member state

According to him, the process has gained momentum, and the EU expects that after the initial decision is made, the case will move forward.

Recall

After a visit to Ukraine, European Commission Vice President Valdis Dombrovskis said that the European Commission will soon propose how to use the proceeds from frozen russian assets to support Ukraine.

European Commission wants to transfer almost 30 billion euros to Ukraine