Bloomberg has learned that the European Union and the United Kingdom have recently intensified talks on confiscating frozen Russian assets, with the main goal being to increase pressure on Russia ahead of a potential peace deal to end the war.
Points of attention
- Efforts are being made to develop legal and financial mechanisms to allow Europe to seize billions of dollars of Russian assets.
- US is urging Russia to agree to a 30-day ceasefire as Ukraine prepares to accept, aiming to increase pressure on Russia ahead of diplomatic talks.
Ukraine's allies are actively discussing confiscation of frozen Russian assets
According to journalists, British Foreign Secretary David Lemmy and European Union chief diplomat Kaia Kallas are discussing "innovative initiatives."
They aim to increase European defense funding and enhance military readiness.
In addition, the focus will be on legal and financial mechanisms that will allow Europe to seize billions of dollars of Russian assets.
According to anonymous sources, despite the progress made, some countries, such as Belgium and Germany, are still opposed to this due to concerns about violating the principle of state immunity in international law and possible consequences for the euro.
Europe is trying to increase pressure on Russia ahead of another phone call between US President Donald Trump and Putin, scheduled for Tuesday. The US is urging Russia to agree to a 30-day ceasefire, which Ukraine is ready to accept.
