Ukraine is demanding the European Union hand over an additional 5 billion euros from the proceeds of Russia’s frozen assets. This was reported by Policy.
Euroclear, which owns the vast majority of Russian assets in Europe, was allowed to keep profits from its 2022 and 2023 investments rather than sending them to Ukraine.
Elena Galushka, a representative of the pro-Ukrainian lobby group, told the publication that the profit of 5 billion euros in these two years is equal to one year of the International Monetary Fund (IMF) program.
However, the European Commission still proposed using 90% of the proceeds from the Russian Federation’s frozen assets acquired after February 15, 2024. So the profits made up to this point will remain with Euroclear.
The EC also said that the €5 billion Euroclear withheld was a buffer that would allow payment of current and future legal claims in Russia and other countries.
Euroclear announced that the 2022-2023 profit on Russian assets is separated from the profit made in the scope of “ordinary business”.
Previously in the EU statedThey are not afraid of Russia’s reaction to the use of its assets for Ukraine