The EU ambassadors have preliminarily agreed on the proposal of the European Commission to use the proceeds from Russia’s frozen assets for the reconstruction of Ukraine. This was announced by the Belgian Presidency of the EU Council.
“The EU ambassadors have only in principle agreed on a proposal to use the proceeds from frozen assets to support the reconstruction of Ukraine,” the publication says.
As the correspondent of “Radio Liberty” Rikard Jozvyak reported, it was agreed to create a separate account to which the proceeds from the frozen Russian assets will be transferred.
“Now it’s about agreeing on the next step: the actual sending of money to Ukraine,” Yozvyak added.
Earlier, the specialized committee of the US Senate supported the draft law on the confiscation of Russian assets frozen due to sanctions. If the project is accepted, the USA will be able to transfer these assets to Ukraine to compensate for the damage caused by Russian military aggression. If the bill goes into effect, it will be the first time the US can seize assets associated with a country it is not at war with.
Moscow previously stated that in response to the freezing or confiscation of Russian assets abroad, it may take similar steps in relation to the assets of “unfriendly countries” in Russia, which it estimates to be at least 288 billion dollars.
- After the introduction of sanctions due to the war in Ukraine, Russian assets worth about 300 billion dollars were frozen in the USA, EU countries, Canada and Japan.
- Most of the Russian assets under sanctions are located in Europe. The countries of the European Union have not yet developed a legal mechanism for their confiscation, but they are looking for an opportunity to transfer to Ukraine the profit that these assets continue to bring.