Channeling revenue from frozen Russian assets to support Ukraine could negatively impact the euro as a global currency. In this respect writer The Financial Times (FT) newspaper referred to the message of the European Central Bank (ECB).
The European Central Bank has specifically warned the European Commission (EC) that the use of profits from Russian assets frozen in the European Union (EU) could adversely affect the euro as a global currency.
According to the ECB, interest rate gains from Russia’s frozen assets could cause other central banks with large reserves to abandon the use of the euro.
The report stated that the Brussels authorities are considering using the profits from Russia’s frozen assets as one of the measures they have taken to support Ukraine.
At the end of May, European Commissioner for Justice Didier Reynders declarationHe said the European Commission and the European Union are also looking for opportunities to seize private Russian assets frozen in the EU.