10/21/22

Permalink EU Wants to Steal Russian Assets to Finance Ukraine

EU leaders have instructed the European Commission to prepare proposals on ways of using frozen Russian assets to rebuild Ukraine, Russian media reported on Friday. The statement comes as EU leaders wrapped up a two-day summit in Brussels.

💬 “We have to talk about the use of [frozen] assets that we have – Russian [frozen] assets. We have over €300 billion ($292 billion) of [frozen] assets and how we can use them in benefit of Ukraine,” Estonian Prime Minister Kaja Kallas said on Friday, as quoted by CNN.

Legally, the frozen funds still belong to Russia or its citizens. In order to spend those assets, the EU needs to find a way of confiscating them. According to media reports, EU leaders will discuss the possible confiscation of frozen Russian assets at a summit in Brussels in May. European Commission President Ursula von der Leyen said the EU was looking to provide Ukraine with about €1.5 billion each month. The bloc’s finance ministers have been tasked with pulling together the money.

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