The Strategist

EU urges to speed up negotiations on use of Bank of Russia assets to help Ukraine

01/25/2023 - 07:07

Head of the European Council called "to lend urgency" to the talks on using the $300 billion in blocked Bank of Russia assets for Ukraine's reconstruction.

Andrew Bossi
Andrew Bossi
According to Charles Michel, the president of the European Council, EU leaders must continue talks about using $300 billion in frozen Bank of Russia assets for the reconstruction of Ukraine. He emphasized that "this is a question of fairness and honesty" and expressed his hope that the bloc's leaders will "provide some impetus" to the conversations.

According to Michel, the key is to actively manage the Russian Central Bank's frozen assets in order to generate revenue that may be applied to Ukraine's reconstruction efforts.

The politician admitted that the choice to use the resources "must be carried out in line with legal standards." At that, he pointed out that despite the legal barriers to asset forfeiture, there "a significant political stake in advancing and addressing this matter.