€210 billion of Russian assets to remain in EU until reparations paid to Ukraine, - Kallas
Russian assets worth up to €210 billion will remain in the EU until Russia pays Ukraine full compensation for the damage caused by the war it started.
This was announced on social media by EU foreign policy chief Kaja Kallas, Censor.NET reports.
Freezing of Russian assets
She commented on the decision of the European Union ambassadors to approve the application of the procedure for the long-term freezing of Russian assets.
According to her, this decision guarantees that up to €210 billion of Russian funds will remain in the EU until Russia fully compensates Ukraine for the damage caused.
"We keep increasing the pressure on Russia until it takes negotiations seriously. Next week’s European Council will be crucial to secure Ukraine’s financial needs for the coming years," Kallas added.
Russian assets to help Ukraine
- As a reminder, earlier, European Commission President Ursula von der Leyen proposed using frozen Russian assets as collateral for providing Ukraine with "reparation loans". Formally, Russian assets subject to sanctions will not be confiscated, but Ukraine will repay such loans only after Russia pays reparations.
- According to various estimates, the European Union's "reparation loan" to Ukraine, secured by Russian assets, could amount to €130-140 billion. Its final size will be determined after the International Monetary Fund assesses Ukraine's financing needs in 2026 and 2027.
- In total, Euroclear has accumulated more than €175 billion in cash from frozen Russian assets, which could be used to secure a new loan. But before the EU agrees to grant a reparations loan, it will want to repay the G7 loan to Ukraine of €45 billion ($50 billion) agreed last year, which was to be repaid from the proceeds of frozen Russian assets.
