The European Union will allocate 15 billion euros to help Ukraine

The European Union plans to raise money from Russian frozen assets to help Ukraine.

Today, December 12, Brussels will propose limiting the income received from the frozen assets of the Russian Federation in the European Union, with the goal of eventually withdrawing up to 15 billion euros for Ukraine. And unsuccessful attempts by the United States and the EU to agree on additional financial support for Ukraine gave new impetus to proposals to use the frozen money of the aggressor country. This was reported by the Financial Times, citing informed sources.

It is noted that the European Commission will first require securities depositories that own assets of the Central Bank of the Russian Federation to place profits received from them in separate accounts. These depositories make a profit by reinvesting funds from the redemption of securities such as government bonds, since payments to Moscow are prohibited due to sanctions.

The second stage envisages that profits will be transferred to the general EU budget to help support Ukraine. It is reported that EU members must unanimously support this plan, as well as further steps to implement it, before Kyiv receives the money.

Let us recall that on November 15, the Czech government froze Russian state assets in the country. It also expanded the list of sanctions against the aggressor country.