EU makes decision on frozen Russian funds

Belgium, the current President of the Council of the European Union (EU), has announced that the bloc's ambassadors have agreed "in principle" to send Ukraine aid in the form of frozen Russian assets.

Belgium, the current President of the Council of the European Union (EU), has announced that the bloc's ambassadors have agreed "in principle" to send revenues generated from frozen Russian assets to Ukraine.

Belgium, the current President of the Council of the European Union (EU), has announced that the bloc's ambassadors have agreed "in principle" to send revenues generated from frozen Russian assets held in the EU to Ukraine.

Belgium, the current President of the Council of the European Union (EU), Wednesday announced that the bloc's ambassadors have agreed "in principle" to send revenues generated from frozen Russian assets held in the EU to Ukraine.

The agreement reportedly allows Euroclear, who hold the majority of the bloc's frozen Russian assets, to keep just over 10% of the generated profits, while nearly 90% will be sent to Ukraine through the European Peace Facility.

EuroNews

The agreement allows Euroclear, who hold the majority of the bloc's frozen Russian assets, to keep just over 10% of the generated profits, while nearly 90% will be sent to Ukraine through the European Peace Facility to buy weapons.

The agreement allows Euroclear, which holds the majority of the bloc's frozen Russian assets, to keep just over 10% of the generated profits, while nearly 90% will be sent to Ukraine through the European Peace Facility to buy weapons.

EU Windfall revenues from Russian assets are estimated at $3.2B annually. Belgium, where Euroclear is based, has also reportedly allowed a mandatory 25% tax charge from the profits to be directed into a fund intended for Ukraine from 2025.

Euractiv

EU windfall revenues from Russian assets are estimated at $3.2B annually. Belgium, where Euroclear is based, has also  allowed a mandatory 25% tax charge from the profits to be directed into a fund intended for Ukraine from 2025.

EU windfall revenues from Russian assets are estimated at $3.2B annually. Belgium, where Euroclear is based, has also  allowed a mandatory 25% tax charge from the profits to be directed into a fund intended for Ukraine beginning in 2025.

European Trade Commissioner Valdis Dombrovskis has claimed that nearly $1.1B could consequently reach Ukraine by summer, while European Commission (EC) President Ursula von der Leyen stated there was "no stronger symbol and no greater use for that money."

BBC News

The European Trade Commissioner has said that nearly $1.1B could then reach Ukraine by summer, while European Commission (EC) Pres. Ursula von der Leyen stated there was "no stronger symbol and no greater use for that money."

The European Trade Commissioner has said that nearly $1.1B could reach Ukraine by summer, while European Commission (EC) Pres. Ursula von der Leyen said there was "no stronger symbol and no greater use for that money."

The European Trade Commissioner has said that nearly $1.1B could reach Ukraine by summer, while European Commission Pres. Ursula von der Leyen said there was "no stronger symbol and no greater use for that money."

The EU holds, in total, approximately $225B in assets from Russia's central banks. Following the agreement by EU ambassadors, the deal must be officially approved by the bloc's member states.

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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

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Confiscation of immobilized Russian state assets is moral and vital

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. This move will do little but encourage divestment from the Western world.

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Russia warns West against seizing its money

There is a 70% chance either the US or EU will seize sovereign Russian assets in 2024, according to the Metaculus prediction community.

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Will the US or EU seize Russian sovereign assets

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

Repurposing Russian profits is necessary to finance the ongoing war effort and ensure the successful rebuilding of Ukraine after the conflict. Russian leader Vladimir Putin is unlikely to cooperate in a reparations campaign, so the West must act proactively and do what is right against Putin's hypocritical objections..

The seizing 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 West will. This move will do little but encourage divestment from the Western world.

There's a 70% chance either the US or EU will seize sovereign Russian assets in 2024, according to the Metaculus prediction community.

EU Sending $3.2B of Frozen Russian Assets to Aid Ukraine

EU AgreesSending to Send $3.2B of Frozen Russian Assets to Aid Ukraine

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