Confiscation of frozen Russian assets: EU prepares decision for next week

European Union countries may announce the confiscation of frozen Russian assets as early as this week or next week.

This is reported by The Times.

British Prime Minister Keir Starmer said a deal to use up to £100 billion in frozen Russian funds to support Ukraine could be reached within days, saying peace talks were at a “critical stage”.

Starmer, along with Ukrainian President Volodymyr Zelensky, French President Emmanuel Macron and German Chancellor Friedrich Merz, discussed possible US peace initiatives and the use of frozen Russian assets. The funds could go both to finance Ukraine’s defense needs and to rebuild the country in the event of a peace deal.

According to the publication’s sources, about 8 billion pounds sterling are in accounts in British banks and are already being considered as a key financial instrument to support Ukraine over the next two years.

Meanwhile, Belgium, where a significant portion of Russian assets are concentrated, is holding back the transfer of funds due to fears of legal liability for an amount that amounts to a third of the country’s annual GDP. Despite this, British officials are optimistic and predict a deal will be reached next week.

Following a meeting between the leaders of the UK, Ukraine, France and Germany, sources said the parties had made positive progress on using frozen Russian assets to support Ukraine’s recovery.

As a reminder,Japan refused to join the European Union initiative , which involves using frozen Russian assets to financially support Ukraine.

As reported, the United Kingdom may unblock Russian frozen assets worth 8 billion pounds (over 10.5 billion dollars) in order to transfer them to Ukraine.

By the way,the US tried to convince the European Union countries not to use frozen Russian assets for a reparations loan to Ukraine.

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