EU mulls using frozen Russian assets to aid Ukraine
The European Union will examine how Ukraine’s use of frozen Russian assets to finance defense and restructuring, but now it is not politically realistic to seize them.
According to the EU, under the sanctions imposed on Moscow in the block, approximately 210 billion euros ($ 375 billion) are the Russian presence.
Some EU countries, including Ukraine and Estonia, Lithuania and Poland, said that assets should be seized now and should be used to support Kiev.
As Ukraine encountered tens of billions of euros for next year, these calls intensified.
However, the EU has rejected the idea with Belgium, which holds most of its heavy weights France and Germany – most of the assets.
They stated that the profits obtained from assets were used to support Ukraine, while questioning the legality of such a movement and the potential impact on the Euro currency.
Speaking after a meeting of the EU Foreign Ministers in Copenhagen, Kallas said that he would see this money again for the damage caused by the war.
Kallas, “We don’t see what they pay for damage. So we need to have an exit strategy,” Kallas said he used assets, he said.
Most of the assets, Foreign Minister Maxime Prevot, said no seizures are now in question.
“These assets are firmly protected in accordance with international law.” He said.
“Confiscation of them will trigger systemic financial instability and at the same time eroding the confidence in the Euro.”
Prevot also rejected a call for a change in the investment strategy for profit from assets to obtain higher return.
He said it would be financial and legally very risky.
Last year, the G7 Nation Group, including the EU, agreed to use the profits produced by beings to finance the US $ 50 billion ($ 76 billion) for Ukraine.
Kallas, “Belgium and many other countries are not willing to argue now … But everyone accepts … Russia is not our taxpayers, not our taxpayers, not to pay damages.” He said.
Russia pointed out that it may agree to use frozen assets for restructuring in Ukraine, but it will insist that some of the money is spent in areas controlled by the country, and the sources told Reuters in February.
