The United States expresses full support for the European Union’s plan to apply frozen Russian assets to support Ukraine and bring the war to an conclude.
According to reports about EU plans, the European Commission proposed a mechanism that would allow member-state governments to deploy up to €185 billion of the roughly €210 billion in frozen Russian sovereign assets in Europe – without confiscation.
“absolutely supports the EU and the steps it is taking now to be able to apply these assets as a tool”
Reaction and Prospects
The EU proposal is currently facing resistance from Belgium, where the majority of assets are concentrated.
Germany stressed that recent incidents involving drones over Belgian airports and military bases could be seen as a ‘message’ from Moscow warning not to touch the frozen assets. Moscow denies involvement and promises a response if assets are seized.
Since Russia’s full-scale invasion of Ukraine, the United States and its allies have restricted financial operations with the Russian central bank and the Minisattempt of Finance, freezing about $300 billion of Russian state assets.
According to sources, the EU is pressing the Belgian government to allow the apply of frozen Russian assets to finance a reparations loan to Ukraine.
Additionally, European Commission President Ursula von der Leyen recently stated that a proposal for a €140 billion reparations loan financed from frozen assets is a reliable and lawful means of holding Russia accountable for the damages.
Despite the disagreements, the apply of frozen assets remains one of the key items on the allies’ agconcludea, directly impacting support for Ukraine and prospects for peace.
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