Ukraine Demands Use of Frozen Russian Assets and Proposes Mechanism for the EU

Ukraine insists on the use of frozen Russian assets and has proposed the creation of a special mechanism for the EU. The spokesperson for the Ministry of Foreign Affairs, Georgy Tikhiy, noted that Russian attacks are increasing Ukraine's budget deficit, and using frozen assets instead of EU taxpayers' money would be logical. The main issue remains Belgium's position, where a large portion of the 210 billion euros in frozen funds is located. Ukraine proposes collective responsibility to address the issue of asset confiscation. The Ministry of Finance has submitted a proposal to create a pan-European mechanism that would allow the use of frozen funds for the defense and reconstruction of Ukraine. Earlier, the Netherlands, Poland, Spain, and Sweden urged the European Commission to consider the possibility of using these assets, as Russia shows no signs of ceasing its aggression. Following Russia's invasion of Ukraine, approximately 260 billion euros of Russian assets were frozen, of which about 200 billion are held in the Belgian depository Euroclear. The Central Bank of Russia has filed a lawsuit demanding compensation, but the European Commission rejected it as speculative.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.