Snapshot 2:Wed, May 8, 2024 5:25:00 PM GMT last edited by TylerJ

EU Agrees to send $3.2B of Frozen Russian Assets to Aid Ukraine

EU agreesAgrees to send €3bn$3.2B fromof frozenFrozen Russian assetsAssets to aidAid Ukraine

Published MAY 8 2024

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Image credit: Thierry Monasse/Getty Images via Getty Images

The Spin

Repurposed Russian profits are necessary not only to finance the ongoing war effort but also to ensure the successful rebuilding of Ukraine once the conflict is over. With much needed future reparations and the cooperation of Putin and Moscow hard to imagine, the West must therefore act proactively. Russian warnings against illegitimate behavior are the height of hypocrisy – the West must do what is right to protect Ukraine.

chathamhouse.org

The EU and Euroclear's ability to hold and make use of frozen Russian assets is legally dubious and incredibly damaging to international confidence in the West's financial institutions. By using profits which are rightfully Russian, a dangerous and irreversible precedent will be set that the US and Europe should seriously consider before making any rash decisions.

RT