Russia's frozen assets are generating billions. The EU is getting ready to send them to Ukraine

[IronLionZion]

https://www.cnn.com/2024/02/01/business/frozen-russian-assets-ukraine/index.html



London
CNN
—
Russian assets frozen in European accounts are generating billions of dollars in interest payments that could be diverted to help repair Ukraine’s war-torn economy — and the European Union just took a step closer to doing that.

After Russia’s full-scale invasion of Ukraine in February 2022, Western countries froze nearly half of Moscow’s foreign reserves — some €300 billion ($327 billion). Around €200 billion ($218 billion) sits in the European Union — mostly at Euroclear, a financial institution that keeps assets safe for banks, exchanges and investors.

EU leaders agreed a crucial $50 billion funding package for Ukraine on Thursday and came closer to finalizing a plan to use the profits piling up in Euroclear’s accounts.

In a statement issued at the end of a summit, EU leaders said “potential revenues could be generated … concerning the use of extraordinary revenues held by private entities stemming directly from the immobilized Central Bank of Russia assets.”

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Russia paying to rebuild Ukraine is better and a lot more realistic than Mexico paying for Trump's wall.

[B.See]

1. Good! I call that karma.

[Fla Dem]

2. Fantastic! Hope Putin sh$ts in his pants.

[mitch96]

3. This is a good thing. Ukraine needs ammo and this will pay for it.. Karma indeed...nt

[onecaliberal]

4. Hurry up. What are they waiting for?

[patphil]

5. Orban, Putin's friend, blocked NATO from helping Ukraine. I'm glad to see the EU is stepping up.

Seizing Russian funds, and sending them to Ukraine, hurts Putin twice. Once in the pocketbook, and again on the battlefield.

[PortTack]

6. The EU commission has given orbin an ultimatum go along with us, or we will exclude you and do it anyway.

[orangecrush]

8. I have to wonder

What was used as leverage to "persuade" a thug like Orbin to do the right thing.

"See, I Ate the pie!"

[PortTack]

12. Two things. The EU has held up funds to Hungry due to their lack of democratic policy towards the Hungarian ppl

And The head of the EU telling orbin, you either join us, or we will do it without you. orbin knows
if they withdraw from the EU they are screwed….essentially a Putin puppet like Lukashenko.

[orangecrush]

7. Excellent point!

Grab 'em by the yachts!

[Joinfortmill]

9. Phucking Awesome!!

[Hassler]

10. Awesome. Biden should as well

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[Cha]

11. Thank Goodness!!