The EU previously agreed to spend interest on the frozen assets of Russia for military assistance to Ukraine

Permanent representatives of the European Union previously agreed on the idea of ​​using income from frozen Russian assets not only for the restoration of Ukraine, but also for military assistance to it, Belgium chairmanship reported .

“I welcome today's political agreement,” commented the chairman of the European Commission Ursula von der Lyain. “There can be no more powerful symbol and more benefit from this money than to make Ukraine and all of Europe a safer place for life.”

The EU plans to use income from frozen $ 300 billion, most of which is located in Europe. From the beginning of 2024, these income at the European depository of EuroClear amounted to € 1.6 billion - this is interest from more than € 200 billion stored in blocked Russian accounts. By 2027, revenues may already be € 15–20 billion.

The United States, unlike the EU, would like to spend frozen assets themselves, the House of Representatives in April has already approved a bill, which allows Ukraine to send about $ 6 billion from the frozen $ 300 billion reserves.

Such a decision in Europe is not supported. The confiscation of sovereign Russian assets frozen at the EuroClear site will open the Pandora box, and can also strike the financial markets, the EUROCLEAR Executive Director Valeri Ubren warned . Also on May 8, the first deputy director, the manager of the International Monetary Fund (IMF), Gita Gopinat asked to follow legal norms, making decisions about Russian assets: “Many countries are closely monitoring the ongoing discussion about the possible use of Russian assets, including reserves of the Bank of Russia, to support Ukraine. Although this should be determined by the relevant courts and jurisdictions, it is important for the IMF that any action has a sufficient legal basis and does not undermine the functioning of the international foreign exchange system. ”

The Russian authorities call any attempts to use the capital of the country or interest on it with a “theft”. Dmitry Medvedev admitted that Russia will not be able to “give a completely symmetrical answer to this state rudeness,” since it “does not have a significant amount of American state property, including money, rights and other US assets”. But the EU and the United States are afraid that in response, tens of billions of dollars of their investors remaining in Russia will lose. These assets as an “asymmetric”, but no less painful answer suggested “recover” in favor of the Russian Federation, its companies and individuals Medvedev.