“The largest European countries support the confiscation of frozen Russian assets worth more than 200 billion euros, developing plans to cease fire in Ukraine. Source: Financial Times, citing sources of details: France and Germany, which have been opposed to the complete confiscation of assets in the EU for a long time with the UK and other countries.”, – WRITE: www.pravda.com.ua
Source: Financial Times with reference to sources
Details: France and Germany, which have been opposed to the complete confiscation of assets in the EU for a long time with the UK and other countries.
Advertising:
According to three persons informed of the negotiations, French officials discussed the proposal of European countries to confiscate these assets if Moscow violates the future ceasefire agreement in Ukraine. It is an effort within the safety guarantees for Kiev in the event of a ceasefire agreement.
Proponents of this idea see the attachment of frozen assets to complying with Russia by a possible agreement by a way of pressure on Moscow and guarantees for Ukraine.
After the full -scale invasion of Moscow into Ukraine in 2022, allies of G7 froze about 300 billion euros of assets of the Central Bank of Russia, the vast majority of which – about 190 billion euros – is located in the Belgian Central Depository of Securities Depository, and the smaller Sumy, and Sumy, France, France, and Sumy.
Currently, revenue from these assets – mostly cash and government bonds – is used to pay the countries of the “large seven” of loans provided to Ukraine worth $ 50 billion, but the basic assets are not true.
Ukraine, Poland and the Baltic countries have long been insisting on the confiscation of these assets, but key European capitals, including Berlin, Paris and Brussels, have previously refused it because of fears that confiscation would create a precedent in international law.
The European Central Bank is also concerned that the status of the euro as a safe currency for foreign exchange reserves will be jeopardized as most assets are nominated in the euro.
During the negotiations with US President Donald Trump last week, French President Emmanuel Macron said that the immediate withdrawal of assets would not be “respectful of international law”, but these funds may be “part of the negotiations after the war.”
The future Chancellor of Germany Friedrich Merz stated that he would consider supporting the proposal for confiscation of frozen Russian assets, a source familiar with this issue said. On Wednesday, Merz will probably discuss this issue with the current Chancellor Olaf Scholtz to reconcile the position before the EU leaders summit on Thursday. Spokesman Scholz refused to comment.
UK Prime Minister Sir Kir Starmer said on Monday that London was considering using these assets.
“Of course, revenues and income are used,” he told members of Parliament, speaking after signing an agreement with President of Ukraine Volodymyr Zelensky on the weekend, on granting a loan of Ukraine in the amount of £ 2.26 billion, provided with income from Russian sovereign assets.
Direct language Older: “As for themselves (basic – ed.
Details: Two people familiar with the French proposal said that it was well received by other European allies, but before its harmony is far away.
Proponents of asset confiscation received additional arguments after the threats of Trump’s administration to reduce military support to Ukraine.
“More and more countries are ready to use assets as a tool for pressure on Russia,” said one of the FT interlocutors.
What was before: President Volodymyr Zelensky proposed to use some of the funds from frozen Russian assets to fill the future fund, which should become part of the Washington Agreement on the mineral resources of Ukraine.
Recall:
- Earlier, Reuters reported that Russia could agree to use $ 300 billion of frozen assets in Europe to restore Ukraine.
- At the same time, the Russians seem to insist that some of these funds go to the rebuilding of the occupied territories.
- As reported by the EP, the latest version of the project between the US and Ukraine on subsoil provides for the creation of a commercial fund in which the US will have 100% control and Ukraine will allocate funds for it.