The damage to the reputation of the euro by using Russia’s frozen assets for the reconstruction of Ukraine makes such a move impossible. This was stated by European Central Bank (ECB) Vice President Luis de Guindos. Her words potential customers Bloomberg quotes a transcript from the financial regulator.
Our stance on the use of dividends and interest from frozen assets is clear. The Euro is the second most valuable currency in the world and we must consider its long-term reputation. “I think there are other ways to finance the reconstruction of Ukraine.”
The European Union is discussing how to quickly implement plans to impose a windfall tax on profits from frozen assets of the Bank of Russia and use the money to rebuild Ukraine despite the European Central Bank’s concerns, the agency writes. It is estimated that 200 billion euros ($220 billion) of Russia’s sanctioned assets are in the EU.
European Commissioner for Justice Didier Reynders 3 July statedIt was stated that 207 billion Euros of Russian assets were frozen in the EU.
previously economist suggestedEurope is beginning to regret the freezing of Russian assets.