The European Union has struck a deal to send up to £2.6 billion a year to Ukraine from frozen Russian assets.
The tentative agreement on using interest made on Moscow’s assets to buy weapons was struck by EU ambassadors meeting in Brussels on Wednesday.
Kyiv has long called for the funds to be used to help it fight off renewed Russian attacks.
“There could be no stronger symbol and no greater use for that money than to make Ukraine and all of Europe a safer place to live,” said Ursula von der Leyen, the European Commission president after Belgium announced the breakthrough.
The EU froze about £181 billion in Russian central bank assets after Vladimir Putin’s illegal invasion of Ukraine. Most of this is held by Euroclear, a financial services company based in Belgium.
It’s about time. UK should do the same with whatever they’re earning from the £26 billion in Russian central bank assets that they froze.
AllRemainCalm on
Bad news. Wealth is no longer safe in the West. As much as I dislike cripto, and as volatile as it is, there aren’t many feasible options to safely store cash. :/
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***The Telegraph reports:***
The European Union has struck a deal to send up to £2.6 billion a year to Ukraine from frozen Russian assets.
The tentative agreement on using interest made on Moscow’s assets to buy weapons was struck by EU ambassadors meeting in Brussels on Wednesday.
Kyiv has long called for the funds to be used to help it fight off renewed Russian attacks.
“There could be no stronger symbol and no greater use for that money than to make Ukraine and all of Europe a safer place to live,” said Ursula von der Leyen, the European Commission president after Belgium announced the breakthrough.
The EU froze about £181 billion in Russian central bank assets after Vladimir Putin’s illegal invasion of Ukraine. Most of this is held by Euroclear, a financial services company based in Belgium.
**Read more:** [https://www.telegraph.co.uk/world-news/2024/05/08/eu-deal-bilions-frozen-russian-assets-ukraine-yearly/](https://www.telegraph.co.uk/world-news/2024/05/08/eu-deal-bilions-frozen-russian-assets-ukraine-yearly/)
It’s about time. UK should do the same with whatever they’re earning from the £26 billion in Russian central bank assets that they froze.
Bad news. Wealth is no longer safe in the West. As much as I dislike cripto, and as volatile as it is, there aren’t many feasible options to safely store cash. :/