US EditionRussian embassy warns EU about converting frozen assets
EU member states consider converting up to €140 billion of frozen Russian assets into a loan to Ukraine, repayable when Russia pays war reparations, amid legal and financial concerns.
- On Thursday, the Russian embassy to Ireland warned that seizing frozen central bank assets would destroy the EU's credibility and trigger capital flight, adding any confiscation attempt would be legally void.
- About 300 billion in frozen Russian assets are estimated; EU member states are examining a proposal to use 140 billion as a loan to Ukraine, repayable only after Russia pays reparations.
- Holding most frozen assets, Euroclear and Belgian officials urge caution; Belgium wants liabilities shared across EU member states, while Valerie Urbain, CEO of Euroclear, said, `We have been extremely vocal in making sure that we respect the rule of law.`
- Next week, 27 EU heads of state will meet in Brussels to push faster use of immobilized Russian assets amid U.S. pressure and last week's call by the U.K., France and Germany to support Ukraine.
- Longer-Term, officials warn of legal and financial fallout if assets are seized, as Russia refuses reparations and the United Nations, World Bank and European Commission estimate Ukraine's rebuilding at $524 billion.
15 Articles
15 Articles
Brussels is proposing that most of a possible 140 billion euro loan to Ukraine, financed by frozen Russian assets, be used to purchase European weapons, according to a document seen by AFP on Friday.
Read all the latest developments and news about the Russian war of aggression on Ukraine in the live ticker on ntv.de.
The European Union proposes, according to a document consulted on this Saturday (17) by the AFP, that the loan of EUR 140 billion (888 billion real estate) which it wishes to grant to Ukraine, due to the mobilisation of Russian frozen assets, is mainly used by Kiev to purchase European manufacturers' weapons. The European Commission has been working since September to develop a complex scheme that would allow the EU to finance a ‘reparation loan…
The financial support of Ukraine through frozen Russian assets is tempting, but Europe's politicians play with the fire when they implement it. Because in the financial world trust is more than moral. This contribution finance and Ukraine war Europe's grip on Russian assets is delicate has been published on Young Freedom.
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