US backs returning frozen Russian assets to Kremlin after peace deal — Politico
Photo: The US advocates returning frozen Russian assets to the Kremlin (Getty Images)
The United States has called for the return of Russian assets frozen in European Union countries to Moscow after the conclusion of a peace agreement between Ukraine and Russia, Politico reports.
According to the agency, when EU Special Representative for Sanctions David O'Sullivan visited Washington in the summer, US officials made it clear that their position was to return these assets to Russia after the conclusion of any peace agreement.
Despite US objections, European Commission President Ursula von der Leyen continued to work on a plan to use frozen assets to support Ukraine. During her speech on September 10, she said that the EU intends to use these funds to finance Ukraine through a reparations loan mechanism.
According to one diplomat, Brussels sought to give the assets a European political formula.
At the same time, the US seems to have disapproved of this idea from the outset. After the leak in November of the previous version of US President Donald Trump's 28-point peace plan, it became known that he proposed to allocate $100 billion of these assets for reconstruction and investment in Ukraine under US control, and to transfer the remaining funds to a separate US-Russian mechanism.
According to several diplomats, it was this point that caused tension after the leak, as EU officials were outraged by the possibility that the US would effectively divide the assets between itself and Russia, even if part of the funds were formally intended to help Ukraine.
Russia's frozen assets fate
Belgian Prime Minister Bart De Wever recently stated that the EU's plan to use frozen Russian assets to finance Ukraine could have serious economic and geopolitical consequences.
Incidentally, Politico recently published an article stating that Belgium's resistance may have more mundane reasons than fears of retaliation from Russia. The EU suspects that Belgium is appropriating the income from Russian assets.
At the same time, French Foreign Minister Jean-Noël Barrot said that the European Council could decide on Russia's frozen assets as early as December 18.
