The EU decided to postpone profits from frozen assets of the Russian Federation for Ukraine 19:53

The Council of the European Union approved a decision on the allocation of profits from Russia’s frozen financial assets to aid Ukraine. The press service reports that EU Council.

“The Council adopted a resolution clarifying the obligations of central securities depositories (CSDs) that hold assets and reserves of the Bank of Russia,” the statement said.

According to the decree, central depository institutions of the Bank of Russia with assets exceeding 1 million Euros must take into account the fund balances accumulated as a result of EU sanctions measures and store these income separately. At the same time, depositors are prohibited from disposing of the net profit obtained.

The EU Council said all funds would then be used to support Ukraine and revitalize the country.

It was previously reported that the Euroclear group earned 4.4 billion Euros by investing in Russian assets in 2023. However, the Financial Times registeredHe said that even if the EU approved a mechanism to transfer such funds to Kiev, Ukraine would not see this money because this mechanism would not have a retroactive effect.

Meanwhile, European Commission spokesman Daniel Ferri statedIt was stated that the European Union has made progress in the fight against circumvention of sanctions against the Russian Federation by third countries.

Former NATO Secretary General in the name More bold use of frozen Russian assets for Ukraine’s needs.

What are you thinking?

Source: Gazeta


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