The European Union has begun technical work on implementing proposals regarding the frozen Russian assets for use in Ukraine's interests.
EU starts to work on proposals regarding Russia's frozen assets for Ukraine
According to him, the EU Financial Council has currently focused on two key issues:
Macro-financial support of Ukraine;
Use of Russia's frozen assets for Ukraine's interests.
Regarding frozen and immobilized assets, we analyzed the proposals of the European Commission and the High Representative (Joseph Borrell — ed.) received in December 2023 and confirmed our firm commitment to their swift implementation. Work at the technical level has begun, and we aim to make rapid progress, the minister said.
It is worth noting that Belgium has taken over the presidency of the EU Council on economic and financial issues in Spain.
Today we had a very constructive exchange of views regarding the economic and financial consequences of Russian aggression against Ukraine. There was a round table where everyone clearly declared and expressed their support for Ukraine, said the Minister of Finance of Belgium.
He said that the European Union is already completing work on the so-called Ukrainian fund, which will help continue supporting Kyiv financially.
The issue of the transfer of Russian assets to Ukraine
After the beginning of the full-scale war of Russia against Ukraine, the Western countries froze the assets of the aggressor country.
The United States of America offered the G7 countries to confiscate $300 billion of frozen Russian assets for the benefit of Ukraine. They want to agree on the corresponding plan before the second anniversary of the full-scale invasion of the Russian Federation.
The other day, the Prime Minister of Ukraine, Denys Shmyhal, said that the partner countries have come close to solving this issue.
On January 11, it became known that the White House supported the legislation, which would allow the confiscation of about $300 billion from Russia's frozen assets and direct these funds to Ukraine's reconstruction.
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