EU Commission to continue work on frozen Russian assets
European Commission President Ursula von der Leyen (photo: Getty Images)
The European Commission will continue work to confiscate and transfer Russia's frozen assets to Ukraine despite the new US peace plan, The Guardian reports.
The publication reported that Brussels received confirmation from the European Commission that its work regarding frozen Russian assets will continue, regardless of the peace negotiations being conducted by the United States.
Confiscation of Russian assets
The European Union is considering providing Ukraine with a reparations loan based on Russia's frozen assets.
However, there is still no consensus on this issue within the EU. In particular, Belgium — the country where most of Russia's frozen assets are located — opposes it.
Brussels fears possible lawsuits and penalty sanctions from Russia.
At the same time, the EU has begun considering alternative financing initiatives for Ukraine, while the reparations loan has not been approved.
Meanwhile, Ukraine is urging its European allies to make a political decision in December on whether to pay a $163 billion reparations loan based on Russia's frozen assets.
