The EU is intensifying work on the use of frozen assets of the Russian Federation for the benefit of Ukraine

The European Union, together with its partners, is intensifying work on the use of frozen Russian assets for the purpose of restoring Ukraine.

This is stated in the conclusions of the summit, “European Truth” reports.

It is emphasized that the European Union, together with its partners, remains committed to supporting the recovery and reconstruction of Ukraine.

In this context, the EU summit welcomed the launch of the Donor Coordination Platform.

“The European Union, together with its partners, will intensify its work on the use of frozen and immobilized assets of Russia to support the recovery of Ukraine and for the purpose of compensation for damages, in accordance with EU legislation and international law,” the conclusions state.

We will remind, on the eve of the two-day summit of the European Union, the leaders of Estonia, Latvia, Lithuania and Poland jointly appealed to the leadership of the blockwith a call to start work on the confiscation of frozen Russian state assets for the restoration of Ukraine as soon as possible.

Back in November 2022, the President of the European Commission, Ursula von der Leyen, said that Brussels together with its partners will develop a plan to confiscate frozen Russian assetsin order to then transfer them to the reconstruction of Ukraine and to compensate for the losses caused by the war in the Russian Federation.

According to the media, the European Commission offers to combine frozen Russian assets at the European or international level for investment, and the profit from this investment could be used to finance the reconstruction of Ukraine.

Read also: A more cautious Europe: will the EU create a mechanism for the confiscation of Russian assets.