Which EU countries are demanding the use of frozen Russian assets for UkraineSweden, the Netherlands, Spain, and Poland are urging Brussels to resume efforts on utilizing over 200 billion euros of frozen Russian assets to finance Ukraine.This was reported by the Financial Times, as noted by UNIAN.A coalition of countries is preparing a letter to the European Commission, calling for renewed work on a mechanism to use these funds, as well as alternative legal and technical solutions that could overcome Belgium’s resistance.Read also
Belgium revealed how frozen Russian assets can be used against the Kremlin
“Now is the time to begin a new discussion on how we can further utilize frozen Russian assets for the benefit of Ukraine and ourselves,” stated Sweden’s Minister for Foreign Affairs, Maria Malmer Stenergard.According to one of FT’s sources, the countries are essentially asking the European Commission to conduct the technical work necessary to employ the assets and reduce Kyiv’s budgetary needs.A previous attempt to implement such a plan failed due to Belgium’s stance, which fears legal retaliation from Russia and financial risks. Specifically, Brussels is concerned that in the event of lawsuits from Moscow, Belgium itself would have to bear responsibility for the potential return of assets.Read also
Former officials from three countries urged the transfer of Russian assets to a new EU structure
“So far, no one has proposed a new option that would not encounter the same political barriers that existed in December,” said an EU representative familiar with the internal discussions.At the same time, he noted that legal proposals can be refined, and with changes in political conditions, they might have a chance of adoption.Ukraine has long urged the EU to use frozen Russian assets to finance its defense. Profits from funds held in Euroclear are already being directed to support a loan to Ukraine of up to 50 billion euros, agreed upon in 2024.Meanwhile, the European Union fears that Ukraine will require more funds. Last year, EU countries agreed on a 90 billion euro loan, backed by the bloc’s budget, as an alternative to the plan for using Russian assets. However, according to Stenergard, “it is clear that this is not enough.”Read also
Richest Russians are moving assets out of Russia due to stock market fall — intelligence
The new initiative has emerged against the backdrop of discussions about the European Union’s next seven-year budget. Some diplomats believe that additional funding for Ukraine could become part of these negotiations and increase pressure on EU countries to find new sources of funds.According to: Finance.ua# RussiaPlace for your advertisement