EU members won’t support Spain’s plan to use proceeds of frozen Russian assets to help Ukraine - Politico
A number of EU countries do not agree with Spain’s plan to transfer to Ukraine the proceeds of frozen Russian assets in the EU, as it will take too long to implement, and Ukraine needs the money immediately.
This is reported by Politico, Censor.NET reports.
On Tuesday evening, EU ambassadors discussed the proposal of the Spanish presidency regarding Russian assets. According to Madrid's calculations, the Russian sovereign assets frozen in the EU could generate €15-17 billion by 2027, which could be used in the interests of Ukraine.
Several ambassadors, including representatives of France, Germany, and the European Bank, have expressed the view that this idea would not provide the necessary support to the Ukrainian economy and could negatively affect the stability of the euro.
According to the publication's anonymous interlocutors, several countries have stressed that it could take months or even years before the actual transfer of funds, while the assistance is needed much sooner.
There are also questions about how the Spanish side made the calculations.
Some diplomats have suggested that Madrid was actually trying to redirect some of the funds from the EU's general budget to other needs, such as migration or competitiveness.
Other officials noted that the Spanish proposal to use the proceeds of Russian assets was unnecessary, as all countries except Hungary were ready to approve a macro-financial assistance package for Ukraine, and the funds from Russian assets should be used in addition to this money, not instead of it.
