Exclusive: EU lawmakers join pressure to use 200 billion euros in Russian assets to help Ukraine
The proposal would route the funds through a Council of Europe mechanism to cover war-damage awards that could reach hundreds of billions of euros.
- On September 9, 122 Members of the European Parliament sent an open letter to EU leaders urging the immediate use of 200 billion euros in frozen Russian assets to provide long-term financing for Ukraine.
- Approximately 210 billion euros of Russian Central Bank assets remain immobilized within the European Union, with the vast majority—180 billion euros —held by Brussels-based clearing house Euroclear in Belgium.
- The Parliamentary Assembly of the Council of Europe's Legal Affairs Committee approved on September 9 a mechanism to use frozen funds as a "lawful countermeasure" to pay compensation awarded to Ukraine by the European Court of Human Rights.
- Some member governments remain cautious about full confiscation due to legal risks and potential financial instability, fearing insufficient solidarity to face future challenges from Moscow despite EU financial support.
- A World Bank report estimates reconstruction costs at $588 billion, meaning frozen assets cover only a portion of Ukraine's total war damage, underscoring the scale of financing needed.
15 Articles
15 Articles
<p>Russia should pay Ukraine tens of billions of euros for crimes — PACE suggested how to take the money PACE proposes to direct frozen assets of the Russian Federation to compensate Ukraine under ECHR decisions. The amount could reach hundreds of billions of euros</p>.
This is potentially billions, tens or even hundreds of billions of euros. A mechanism has been proposed by the Parliamentary Assembly of the Council of Europe to allow the transfer to Ukraine of frozen Russian assets on the basis of decisions of the European Court of Human Rights, as reported by RBC Ukraine with reference to the PACE press service. The Legal Committee of PACE believes that Russia ' s frozen assets can be used to compensate …
Интерфакс-Украина
LB.uaPACE proposes using frozen Russian assets to compensate Ukraine
The Committee on Legal Affairs of the Parliamentary Assembly of the Council of Europe (PACE) believes that Russian state assets should be redirected to pay Ukraine compensation for the damage caused by Russia's war of aggression.
PACE proposes that Russian Federation’s frozen assets be used to compensate Ukraine
The PACE Committee on Legal Affairs and Human Rights has called for the establishment of a mechanism to use Russia’s frozen state assets to pay compensation to Ukraine in accordance with the rulings of the European Court of Human Rights.
That would be a powerful signal to Putin.
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