The European Union decided not to transfer 5 billion Euros from frozen Russian assets to Ukraine. The publication reports that Policy.
It was reported that the money received from the frozen Russian revenues until February 15, 2024 will remain with the central depository Euroclear in Brussels to cover the costs of ongoing and potential litigation in Russia and other countries.
Before reportedThe EU’s plans to use frozen Russian assets could lead to serious losses for the European economy.
European Justice Commissioner Didier Reynders stated that the EU expects to earn around €15 billion from sovereign Russian assets by 2027, and the total amount under European jurisdiction is estimated at around €200 billion.
RIA Novosti publication points out that the negative impact of the pressure policy on Russia is already visible. The euro is losing popularity as a reserve currency; Its share in the third quarter of 2023 was 18.07%, compared to 19.16% in 2021.
It was previously reported by the Central Bank. will accept Intervention measures in case the European Union develops Russian financial assets.
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Source: Gazeta
Emma Matthew is a political analyst for “Social Bites”. With a keen understanding of the inner workings of government and a passion for politics, she provides insightful and informative coverage of the latest political developments.