UK and Canada may join EU plan to seize Russian assets
15 October 11:10
The United Kingdom and Canada will join the European Union’s plan to use frozen Russian assets to finance Ukraine.
This was reported by Bloomberg, citing sources, "Komersant Ukrainian" reports.
It is noted that European countries are close to a compromise on a mechanism for the seizure of Russian assets. The agency recalled that the UK had previously frozen $33 billion worth of Russian assets. At the same time, it is not specified how many frozen assets may be under the jurisdiction of Canada.
Frozen assets of the Russian Federation
It is known that most of Russia’s assets have been frozen in the EU since the beginning of the full-scale invasion. Ukraine receives only a percentage of them. In particular, on October 1, the state budget of Ukraine received a tranche of 4 billion euros from the European Union at the expense of Russian frozen assets.
on October 6, the European Commission presented a plan for the possible use of frozen Russian assets. The plan allows the governments of the bloc’s member states to use up to 185 billion euros of Russian assets.
At the same time, the use of Russian assets can take place without their confiscation, which Belgian officials oppose. Belgian Foreign Minister Maxime Prevost said that the confiscation of Russian assets from Belgian banks would jeopardize the country’s reputation as a financial services center.
on September 30, European Commission President Ursula von der Leyen announces that part of the “reparations loan” to Ukraine from Russia’s sovereign assets frozen in Europe will be spent on arms purchases from European manufacturers.
on October 2, German Chancellor Friedrich Merz said that he expects a “concrete decision” on Russia’s frozen assets in three weeks. According to him, there is “a great agreement among European leaders to support the use of Russian assets to help Ukraine”.
