”**The European Union is examining all potential options to make optimal use of frozen Russian assets in Europe to bolster its support for Ukraine, EU Foreign Policy Chief Kaja Kallas announced on Saturday.**
“It is vital to explore all possible avenues while minimising potential risks,” Kallas stated following a meeting of EU foreign ministers in Copenhagen.
Russian state assets abroad were frozen after Moscow’s invasion of Ukraine in February 2022. The majority of these assets, an estimated €210 billion, are held in Belgium, an EU member state. Initially, the EU decided to use the interest generated from these assets — amounting to several billion euros annually — to support Ukraine’s war efforts.
After months of debate, G7 leaders reached an agreement in October 2024 to utilise the interest from these assets to secure a €45 billion EU-backed loan for Ukraine.
However, several EU countries now argue for a more decisive move, advocating for the use of the assets’ principal, not just the interest. Others, including France, Germany, and the Netherlands, remain cautious, citing legal challenges and concerns that seizing the assets could deter future foreign investors and destabilise the euro.
Compromise proposals have emerged, such as Lithuania’s suggestion to treat the seized assets as a loan to Ukraine, earmarked for war reparations that Russia would eventually pay once the conflict ends.
“There is consensus on one point: given the devastation Russia has caused in Ukraine, it is inconceivable that this money could ever be handed back to Russia unless it fully compensates Ukraine,” Kallas told reporters.
Another proposal involves taking on higher-risk investments to generate greater returns from the frozen assets.
However, Belgium, particularly concerned about financial risks, expressed strong opposition to any changes in the existing strategy. “Changing the investment strategy is not an option, as it could increase legal, financial, and judicial risks,” Belgian Foreign Minister Maxime Prévot cautioned on Saturday during the Copenhagen meeting. He also restated Belgium’s firm opposition to seizing the assets outright.
“Let us work to mitigate these risks,” Kallas added, emphasising the need for a carefully balanced approach.”
LongShow5279 on
I was worried only 2 options were going to be explored..
EnglightenedEmiya on
A risky move this. Why would any country put their money in European financial institutions when it can be taken away according to EU whims? Once the precdent has been set, there is no turning back
QuarkVsOdo on
Lick it.
TomSki2 on
And that’s even when the russkies have no such qualms.
EU companies with assets in Russia will be probably very happy when the same measures will be taken. Lets see how this will mature.
RussBot10000 on
This has been fake news since 3 years ago.
The west still has about 300 billion in assets still in russia. Thats why its dumb to steal this money because russia will just do the same to western assets left in russia. Thus negating any real financial loss.
Countries like Cyprus, the Netherlands, the UK, and Germany hold significant investments in Russia
redcremesoda on
Hasn’t the EU already had 3 years to “explore” this?
Betonkauwer on
A mere 3,5 years after the war and we’re ”exploring” all ”options”
If only the EU was as horny about fucking over russia as it was over fucking over us.
GreenEyeOfADemon on
russia stole, among other things, 400 aircraft with no consequences and we are still here exploring?
kuralho on
If the EU grows a pair, there is only one option, take the funds and use them to help Ukraine.
Dacadey on
Yeah, thankfully, EU politicians, despite loving to shoot themselves in the foot (feet?), are not that stupid to steal other countries’ money and destabilize the Euro and EU financial markets.
OutsideNectarine6503 on
Yes, risky, but right. For the majority of EU citizens, Ukraine belongs there; it defends our values. For friends who are slaughtered for greed and idealism, we must help. As if it weren’t justified, and countries or companies could never justify not doing so. Money and foreign currency are the fuel of this carnage… no idea why we’re afraid.
13 commenti
”**The European Union is examining all potential options to make optimal use of frozen Russian assets in Europe to bolster its support for Ukraine, EU Foreign Policy Chief Kaja Kallas announced on Saturday.**
“It is vital to explore all possible avenues while minimising potential risks,” Kallas stated following a meeting of EU foreign ministers in Copenhagen.
Russian state assets abroad were frozen after Moscow’s invasion of Ukraine in February 2022. The majority of these assets, an estimated €210 billion, are held in Belgium, an EU member state. Initially, the EU decided to use the interest generated from these assets — amounting to several billion euros annually — to support Ukraine’s war efforts.
After months of debate, G7 leaders reached an agreement in October 2024 to utilise the interest from these assets to secure a €45 billion EU-backed loan for Ukraine.
However, several EU countries now argue for a more decisive move, advocating for the use of the assets’ principal, not just the interest. Others, including France, Germany, and the Netherlands, remain cautious, citing legal challenges and concerns that seizing the assets could deter future foreign investors and destabilise the euro.
Compromise proposals have emerged, such as Lithuania’s suggestion to treat the seized assets as a loan to Ukraine, earmarked for war reparations that Russia would eventually pay once the conflict ends.
“There is consensus on one point: given the devastation Russia has caused in Ukraine, it is inconceivable that this money could ever be handed back to Russia unless it fully compensates Ukraine,” Kallas told reporters.
Another proposal involves taking on higher-risk investments to generate greater returns from the frozen assets.
However, Belgium, particularly concerned about financial risks, expressed strong opposition to any changes in the existing strategy. “Changing the investment strategy is not an option, as it could increase legal, financial, and judicial risks,” Belgian Foreign Minister Maxime Prévot cautioned on Saturday during the Copenhagen meeting. He also restated Belgium’s firm opposition to seizing the assets outright.
“Let us work to mitigate these risks,” Kallas added, emphasising the need for a carefully balanced approach.”
I was worried only 2 options were going to be explored..
A risky move this. Why would any country put their money in European financial institutions when it can be taken away according to EU whims? Once the precdent has been set, there is no turning back
Lick it.
And that’s even when the russkies have no such qualms.
https://united24media.com/latest-news/putin-seizes-french-air-liquide-assets-in-russia-amid-wave-of-expropriations-11216
EU companies with assets in Russia will be probably very happy when the same measures will be taken. Lets see how this will mature.
This has been fake news since 3 years ago.
The west still has about 300 billion in assets still in russia. Thats why its dumb to steal this money because russia will just do the same to western assets left in russia. Thus negating any real financial loss.
So it would only serve to weaken the western financial system and be a fake news win for you mush brains. [https://www.reuters.com/world/europe/russia-cant-match-western-asset-seizure-it-can-inflict-pain-2024-05-02/](https://www.reuters.com/world/europe/russia-cant-match-western-asset-seizure-it-can-inflict-pain-2024-05-02/)
Countries like Cyprus, the Netherlands, the UK, and Germany hold significant investments in Russia
Hasn’t the EU already had 3 years to “explore” this?
A mere 3,5 years after the war and we’re ”exploring” all ”options”
If only the EU was as horny about fucking over russia as it was over fucking over us.
russia stole, among other things, 400 aircraft with no consequences and we are still here exploring?
If the EU grows a pair, there is only one option, take the funds and use them to help Ukraine.
Yeah, thankfully, EU politicians, despite loving to shoot themselves in the foot (feet?), are not that stupid to steal other countries’ money and destabilize the Euro and EU financial markets.
Yes, risky, but right. For the majority of EU citizens, Ukraine belongs there; it defends our values. For friends who are slaughtered for greed and idealism, we must help. As if it weren’t justified, and countries or companies could never justify not doing so. Money and foreign currency are the fuel of this carnage… no idea why we’re afraid.