The EU wants to transfer 15 billion euros from Russia’s frozen assets to Ukraine – FT
The EU intends to provide Ukraine with EUR 15 billion from Russia’s frozen assets. The plan must be supported by all EU member states before the money can be sent to Kyiv.
This is reported by the Financial Times.
On Tuesday, December 12, Brussels will propose to limit the profits received from frozen assets of Russia in the EU, aiming to eventually withdraw up to 15 billion euros in favor of Ukraine.
According to the proposal, only proceeds from the assets of the Russian Central Bank will be used. According to the commission’s estimates, this would generate up to €3 billion per year or €15 billion over the period from 2023 to 2027. Although officials warned that this amount will depend on interest rates during this period.
The European Commission’s corresponding plan has been delayed since the summer after several EU member states and the European Central Bank announced legal and financial problems.
At the same time, hesitant attempts by the US and the EU to agree on additional financial support for Ukraine have given new impetus to proposals regarding Moscow’s frozen money, say those familiar with the discussion.
– It is important to think about how we can use Russian immobilized assets and the income from these assets to support Ukraine, – the vice president of the commission, Valdis Dombrovskis, told the Financial Times.
He noted that the G7 countries agreed to freeze their assets until the Russian Federation compensates Ukraine for its losses. According to Dombrovskis, now is the time to think about how to best use the revenues received during this time.
Earlier, the Ministry of Justice stated that Ukraine wants to receive all the frozen assets of the Russian Federation. The interest charged on frozen Russian assets will not be enough to compensate for the losses.
