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Don't miss the chance to use Russian money
🇱🇹 Lithuania /Conflict & Security

Don't miss the chance to use Russian money

From Delfi · () Lithuanian

Translated from Lithuanian, summarized and contextualized by DistantNews.

At a glance

Analysis Named sources Context piece
  • European leaders have a window of opportunity to agree on support for Ukraine before major political shifts in France and Hungary.
  • The author urges European officials to prioritize confiscating Russian central bank assets, estimated at around 210 billion euros, frozen since 2022.
  • Most of these frozen assets are held by the Belgian company Euroclear.

European leaders have a rare alignment of political will regarding support for Ukraine, a window that should be seized before upcoming political changes in Hungary and France.

Edward Lucas, writing for Delfi, argues that from now until May next year, when France holds presidential elections, Europe has a unique opportunity to present a united front. This period, following Viktor Orbán's potential departure from power in Budapest, offers a chance for decisive action.

The primary task for European officials upon returning from their summer break should be the confiscation of Russian central bank assets. Lucas highlights that approximately 210 billion euros have been frozen since Russia's full-scale invasion of Ukraine in 2022. A significant portion of these funds is reportedly held by Euroclear, a Belgian securities settlement company.

Lucas's call to action emphasizes the strategic importance of utilizing these frozen assets to bolster Ukraine's defense and reconstruction efforts. The proposed confiscation represents a substantial financial lever that could significantly impact Russia's ability to wage war and fund its objectives.

DistantNews Editorial

Originally published by Delfi in Lithuanian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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