EU prepares 19th sanctions package, targets frozen Russian assets
Photo: Head of the European Commission Ursula von der Leyen (Getty Images)
The EU is preparing the 19th package of sanctions and new measures regarding frozen Russian assets. These steps are intended to increase pressure on the Kremlin and support Ukraine, Ursula von der Leyen, the head of the European Commission, stated.
She made a statement regarding the night attacks on Kyiv, saying that she was outraged by the assault, which affected the EU representation in Ukraine.
She clarified that "two missiles in a distance of 50 meters of the delegation within 20 seconds."
"It shows that the Kremlin will stop at nothing to terrorise Ukraine," warned von der Leyen.
New sanctions against Russia
Von der Leyen said that the EU will soon present a new package of sanctions against Russia. She emphasized that the union is also "advancing the work on the Russian frozen assets to contribute to Ukraine’s defence and reconstruction."
Speaking against the backdrop of EU flags, she noted:
"I’m outraged by the attack on Kyiv, also hitting our EU offices. This was the deadliest drone and missile attack on the capital since July."
Threat to the whole European Union
Von der Leyen added that the attack was directed not only against Ukraine but also against Europe itself.
"Two missiles hit in a distance of 50 metres of the delegation within 20 seconds. And this is another grim reminder of what is at stake," she said.
She stressed that the Kremlin continues to "blindly killing civilians, men, women, and children, and even targeting the European Union."
Maximum pressure on the Kremlin
"This is why we are keeping maximum pressure on Russia.That means tightening our sanctions regime. We will come forward soon with our 19th package of hard, biting sanctions," said von der Leyen.
She added that work is simultaneously underway on the use of frozen Russian assets. These funds, according to her, should help in "Ukraine’s defence and reconstruction."
"And of course, we are ensuring strong, unwavering support to Ukraine, our neighbour, partner, friend and our future member," summed up the head of the European Commission.
It should be noted that the sum of frozen Russian assets in the Euroclear depository (Belgium) amounts to 183 billion euros.
The EU wants to spend only the income from investments, leaving the principal capital untouched, in order to avoid accusations of violating international law. The G7 group last year agreed to direct 45 billion euros of funds from the investment of frozen assets to Ukraine.
The EU’s share in this aid amounted to 18 billion euros, which should be paid by the end of the year.
As stated by the President of France, Emmanuel Macron, the EU cannot confiscate frozen Russian assets due to the absence of a legal basis.
