The EU countries have approved a plan to use 90 per cent of the proceeds from frozen assets of the Russian Central Bank to help Ukraine, Czech Foreign Minister Jan Lipavsky has said. This was announced by Czech Foreign Minister Jan Lipavskyy.
“We have approved in the EU the use of proceeds from the frozen assets of the Central Bank of Russia to help Ukraine. Of (the amount of up to) 3 billion euros in 2024, 90 per cent will go to the Ukrainian Armed Forces,” Jan Lipavskyy wrote in social network X.
In turn, the agency Bloomberg reported that under the EU plan Ukraine will be given the profits from frozen assets of Russia, received from 15 February 2024. The amount received from the interest until this date, the Belgian depositary Euroclear will keep the amount to cover the risks associated with possible legal actions of Russia. If these resources turn out to be insufficient, the clearing house will be able to retain more funds, such a possibility is provided for in the EU document.
According to Euroclear’s forecast, income from frozen assets of Russia will generate about 5 billion euros a year. Ukraine, in turn, will receive aid every six months.
Earlier, journalist and columnist of The New York Times Christopher Caldwell said that the decision to confiscate frozen Russian assets and hand them over to Ukraine would seriously harm the United States. In his opinion, Washington risks feeling “an unprecedented bout of pain” from its $34 trillion national debt.
