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Four EU nations urge use of frozen Russian assets for Ukraine aid
🇬🇷 Greece /Economy & Trade

Four EU nations urge use of frozen Russian assets for Ukraine aid

From Ta Nea · () Greek

Translated from Greek and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Four European countries, Poland, Spain, the Netherlands, and Sweden, are advocating for the use of frozen Russian assets to aid Ukraine.
  • These nations argue that utilizing these assets would ensure Russia pays for the destruction it caused in Ukraine and reduce the burden on European taxpayers.
  • The proposal comes as Ukraine faces an urgent need for further short- and long-term funding, with Russia showing no willingness to negotiate.

Four European nations, Poland, Spain, the Netherlands, and Sweden, are intensifying pressure on the European Union to utilize frozen Russian assets to provide enhanced financial support for Ukraine.

We are fully aware that this issue is complex and we must find solutions that take into account the legitimate interests.

— Foreign Ministers of Poland, Spain, the Netherlands, and SwedenAcknowledging the challenges in utilizing frozen Russian assets for Ukraine's benefit.

In a joint letter, the foreign ministers of these countries urged a reconsideration of the idea, which had previously been discussed but abandoned in December. At that time, the 27 EU member states opted for a €90 billion loan for Ukraine, guaranteed by the EU budget. Currently, approximately €210 billion in Russian assets are frozen within the EU following Russia's invasion of Ukraine in February 2022. The utilization of these funds has faced significant opposition, particularly in Belgium, where Euroclear, the company managing the assets, holds 90% of them.

The letter acknowledges the complexity of the issue, stating, "We are fully aware that this issue is complex and we must find solutions that take into account the legitimate interests." The four nations emphasize that Russia shows no inclination for negotiation, while Ukraine has an immediate and pressing need for further funding, both short-term and long-term.

It is time to reconsider the issue to learn how frozen Russian assets can be further used for the benefit of Ukraine.

— Foreign Ministers of Poland, Spain, the Netherlands, and SwedenUrging the EU to revisit the proposal of using frozen Russian assets for Ukraine.

"It is time to reconsider the issue to learn how frozen Russian assets can be further used for the benefit of Ukraine," the ministers wrote, primarily addressing the head of European diplomacy, Kaja Kallas. They argue that by using these assets, "the EU ensures that Russia pays without delay for the destruction it caused in Ukraine, reducing the burden on our taxpayers."

the EU ensures that Russia pays without delay for the destruction it caused in Ukraine, reducing the burden on our taxpayers.

— Foreign Ministers of Poland, Spain, the Netherlands, and SwedenStating the rationale behind using frozen Russian assets to fund Ukraine's recovery.
About this summary

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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