The European Commission and the European Central Bank (ECB) are at odds over the introduction of a profit tax on frozen assets of the Central Bank of Russia. This was reported by the Bloomberg news agency, citing informed sources.
Bloomberg writes that the European Commission and the European Central Bank are at odds over plans to impose a tax on profits from Russian assets. According to the agency, the existing contradictions may push back the timing of the decision on the use of funds of the Russian Federation.
“EU executive officials on Thursday expressed their objection to ECB President Christine Lagarde in response to the bank’s warning that action on frozen assets could threaten eurozone financial stability and single currency liquidity”, the publication said.
The Agency emphasises that the European Commission rejected the arguments of the European Central Bank. The EC said that the risks were calculated in February 2022, and at the moment “none of them has manifested itself”. According to one of Bloomberg’s sources, the tax on secondary income from the exploitation of Russia’s frozen assets, which is supposed to be activated, does not affect the assets themselves, nor the claims of the Russian Central Bank, nor the EU’s role in safeguarding the securities.
According to the agency’s interlocutor, the deadline for the implementation of the decision has shifted to a timeframe after the summer period. He emphasises that the disputes arose not only between representatives of the European Commission and the European Central Bank, but also the member states of the European Union divided into two opposing blocs.
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