2024-04-20 11:29:29
G7 countries are discussing the idea of frozen Russian assets worth nearly $300 billion being used as guarantees for loans to Ukraine. This was stated by the Vice President of the European Commission, Valdis Dombrovskis, quoted by Reuters.
According to him, various options are being considered and discussions are continuing.
Dombrovskis expressed hope that the EU, where most of the frozen assets are, will approve a separate measure at the European level to use interest profits on those assets to help Ukraine.
British Foreign Minister David Cameron has called for “creative” ways to use frozen Russian assets to finance the defense of Ukraine, France Press reported.
The statements came amid growing calls in the US and Europe for a fund for Ukraine to use billions of dollars in Russian assets frozen in the West after the 2022 invasion of Ukraine.
According to the head of European diplomacy, Josep Borrell, the interest on assets frozen in the EU, worth about 200 billion euros, for example, amount to between 2.5 and 3 billion euros per year, writes BTA.
Most of these assets are held by Euroclear, an international anti-money laundering organization based in Belgium.