Frozen assets of Russia can be used as collateral for loans to Ukraine - European Commissioner
Photo: Russia's frozen assets could be used as collateral for loans to Ukraine (Getty Images)
The frozen assets of the Russian Federation in the amount of $300 billion can be used as collateral for loans to Ukraine, stated the Executive Vice President of the European Commission Valdis Dombrovskis.
According to Dombrovskis, the Group of Seven (G7) countries are considering various options and discussions are still ongoing.
However, the Vice President of the European Commission expressed hope that the European Union will approve a separate procedure in the coming months to use profits or interest earned on Russian assets to help Ukraine.
Frozen assets of the Russian Federation
Frozen assets are foreign exchange reserves of the Russian central bank that were kept outside the borders of the Russian Federation before the full-scale invasion of Ukraine and are now confiscated by Ukraine's partner states.
Yesterday, RBC-Ukraine reported that the United States, together with other G7 countries, discussed several options for transferring frozen Russian assets to Ukraine.
It is known that the G7 countries have different opinions on what to do with the frozen assets of the Russian Federation. At the end of 2023, Western media reported that the United States proposed that G7 countries confiscate $300 billion in frozen Russian assets in favor of Ukraine.
