The clause on $100bn of Russian assets was excluded from the peace agreement

The clause on $100bn of frozen assets of the Russian Federation was removed from the peace agreement

Agency. Bloomberg reports that the updated draft peace agreement included the clause on $100bn of frozen Russian assets was excluded. Previously, the document stipulated that part of the income from these funds - approximately 50% - was to be transferred to the United States.

According to the publication, this provision is more not included in the final version, which is currently being discussed by the parties.

What the original version provided for

In the previous version of the plan, it was about:

• use of income from frozen Russian assets;

• transferring half of the profits to Washington as a compensation mechanism;

• the possibility of distributing the second part of the funds among Ukraine's partners.

It was this point that drew criticism from a number of European states and diplomats.

What has changed

According to Bloomberg:

• the provision on the distribution of income is excluded;

• updated document does not contain financial formulas or shares;

• the issue of russia's assets will be considered separately from the peace agreement;

• The negotiating text is still being finalised.

The agency's sources also report that the changes were the result of lengthy consultations in which the Ukrainian side actively insisted on correcting controversial wording.

Context.

Frozen Russian assets are a key issue in the international debate. More than $300bn are under Western sanctions, and different countries are proposing their own models for their use. Ukraine insists that these funds should be used to restoration and compensation of losses, caused by Russian aggression.