EU Agrees to Send $3.2B of Frozen Russian Assets to Aid Ukraine
EU SendingAgrees to Send $3.2B of Frozen Russian Assets to Aid Ukraine
The Facts
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.
The Spin
Repurposing Russian profits is necessary to finance the ongoing war effort and ensure the successful rebuilding of Ukraine after the conflict. 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 that are rightfully Russian, a dangerous and irreversible precedent will be set that the West will regret. This move will do little but encourage divestment from the Western world.
