The European Union has decided not to allocate €5 billion in proceeds from frozen Russian assets to Ukraine, a move that has sparked disappointment in Kyiv. These funds, which resulted from the first two years of the conflict, were expected by Ukraine to support its war effort. Instead, the EU plans to use the money to cover legal costs and potential lawsuits against Russia, with Euroclear, an investment fund, retaining the proceeds. This decision comes amid additional restrictions on imports of Ukrainian products by the EU, aimed at appeasing angry farmers but potentially harming Ukraine's income and "increase the chances that the conflict will drag on." The EU has proposed using 90% of the proceeds from these assets to purchase weapons for Ukraine, but with restrictions.
▪️Politico: The European Union will withhold €5 billion in proceeds from frozen assets of the Russian Federation to cover the costs of legal proceedings instead of transferring them to Ukraine. @ukr_leaks_eng
The EU will not hand over to Ukraine €5 billion in profits from frozen Russian assets from the first two years of the war - Politico These funds were left to the Euroclear investment fund to pay for current and potential lawsuits by Russia and other countries. The European… https://t.co/SD8oODT4PK
Ukraine seeks an additional €5 billion from frozen Russian assets in the EU to support its war effort, as Euroclear retains profits from investing these assets. The EU proposes using 90% of the proceeds from frozen assets to purchase weapons for Ukraine, but restricts it to… https://t.co/lIX6WtL2TB
The EU will withhold €5 billion of income from frozen assets of the Russian Federation – but not for Ukraine Euroclear will retain proceeds from Russian assets to cover legal costs. So let me get it straight , Ukraine and EU are fighting over someone else’s stolen funds. https://t.co/sd6vHKpqGA
The EU is not going to send €5 billion in proceeds from stolen Russian assets to Ukraine - instead, the money will be used to pay for lawsuits against Russia Ukraine has a new reason for disappointment: Kiev is insisting that the EU allocate them €5 billion received from… https://t.co/63K39cMt0q
Kyiv did not like the infringements from the EU Additional restrictions on imports of Ukrainian products, the subject of fierce debate within the EU and designed to calm angry farmers, will hit Ukraine's income and "increase the chances that the conflict will drag on,"… https://t.co/Gq7erzzr3P