China reacts to EU plans to use frozen Russian assets for Ukraine aid
Photo: Chinese Foreign Ministry spokesperson Guo Jiakun (Getty Images)
Against the backdrop of the European Union's plans to use frozen Russian assets to support Ukraine, China has stated that it continues to oppose sanctions that violate international law and have not been approved by the UN Security Council, according to Global Times.
Responding to a question about whether such a move by the EU could affect China's confidence in the European investment climate, Chinese Foreign Ministry spokesman Guo Jiakun stresses that Beijing consistently opposes unilateral sanctions that violate international law and are not authorized by the UN Security Council.
At the same time, the Chinese spokesperson does not give a direct assessment of the EU's plans to use Russia's frozen assets and effectively avoids answering questions about the possible consequences for the EU's financial system.
"All parties should create a positive atmosphere and favorable conditions for promoting peace talks and a political solution to the Ukraine crisis, rather than the opposite," the diplomat says.
Russian assets to help Ukraine
The European Commission has previously proposed providing Ukraine with a reparations loan, which would be financed by frozen Russian assets.
Unanimous support from EU countries is required for approval, but Belgium, where about €140 billion in Russian assets are concentrated, opposes such a move.
Brussels is demanding guarantees to protect Euroclear from possible risks, particularly in the event of Russian sanctions.
The European Commission has proposed that Belgium unblock the provision of a €210 billion reparations loan to Ukraine, financed by frozen Russian assets. However, Brussels is still hesitant to take this step.
The EU plans to decide on the reparations loan for Ukraine at its summit on December 18-19.
