Full confiscation of frozen Russian assets is no longer on the agenda of the G7 discussions – Financial Times.
According to the newspaper, instead of complete confiscation of assets, the G7 is looking for less radical but more realistic ways to use the funds.
The European Union is now following the most conservative scenario, which involves the ongoing deduction of income from Russian assets in favor of Ukraine. We are talking about an amount of no more than 3 billion euros per year, depending on interest rates.
In February 2024, Belgium proposed to use €190 billion held in accounts with Euroclear as collateral for debt financing for Ukraine. However, this option carries the same risks as full confiscation, so European countries opposed it.
On February 12, the Council of the European Union approved a resolution allowing Ukraine to use profits from frozen Russian assets.
The European Union must legally justify the decision to confiscate Russian frozen assets. This was stated by Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF). According to her, this will help avoid possible risks in the future. At the same time, Gopinath emphasized that the Fund will not participate in discussions on issues related to the seizure of Russian assets.
