EU prepares decision on confiscation of Russian assets: announcement expected in a few weeks
The European Union is preparing a package of decisions on confiscation of frozen Russian assets, and an official announcement is expected in the coming weeks. This was reported by The Times.
According to the publication, we are talking about up to £100bn, The EU has also been working on a number of initiatives to support Ukraine, including reconstruction and defence.
The UK's position
Prime Minister of the United Kingdom Keir Starmer said that the EU and G7 deal «can be closed in a few days» as negotiations have moved into «critical stage».
London is also expecting a separate decision on about 8 billion pounds, frozen in UK accounts. These funds can be released under a joint mechanism with G7 partners.
G7 statement
At the same time, the G7 countries released joint statement, in which they confirmed their readiness to consider the confiscation of all frozen assets of the russian federation, and not just the profits from them. Canada, the United States, the United Kingdom, Japan, Italy, France and Germany have stressed that Russia should bear full financial responsibility for the war against Ukraine.
Context.
The issue of confiscation of Russian assets first became a key one in 2024-2025 after the mechanism for using the proceeds of frozen assets was agreed upon. Now the EU and G7 are actually moving to the next stage - full capital withdrawal.
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