The European Union will propose using frozen Russian assets to finance Ukraine’s needs.
Source: Financial Times“Voice of America“
Direct speech European Commission press secretary Ana Pizonero: “We are working to ensure that the mobilized Russian assets can also be used in favor of Ukraine.”
Details: According to the Financial Times, the EU intends to use the proceeds received from Russia’s frozen assets in Europe (total value of about $300 billion) to finance assistance to Ukraine.
Such a scheme, writes FT, aims to raise up to 15 billion euros.
Direct speech Executive Vice-President of the European Commission Valdis Dombrovskis: “It is important to look at how we can use Russian immobilized assets and the income from these immobilized assets to support Ukraine.”
More details: In order for the plan to work and the money to reach Kiev, the unanimous support of the EU member states is needed.
At the summit on December 14-15 in Brussels, EU member states will decide the future of the European integration process for Ukraine, as well as its financial support.
If the decision is positive for Ukraine, profits from Russian assets will be transferred to the general EU budget to further support Ukraine.
Pizonero notes that Ukraine’s need for continued financial support is obvious to the EU.
Therefore, the European Commission has developed a new instrument for Ukraine – it is proposed to allocate almost 50 billion euros to support short-term government needs, as well as the further restoration and modernization of the country.
According to Pizonero, this instrument will also allow us to be completely adaptive to respond to changing circumstances and challenges: “Obviously, we need legislators to agree on this instrument by the end of the year so that Ukraine can continue to receive support in 2024.”
2023-12-11 23:14:55
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