Frozen Russian assets worth more than €300b to be used for Ukraine
The European Council called on the European Commission to find options in line with EU and international law that would allow for the use of frozen assets of Russia and Russian businessmen to support the reconstruction of Ukraine.
- Economy
- A News
- Published Date: 03:45 | 22 October 2022
- Modified Date: 03:56 | 22 October 2022
It has been decided by the European Union to investigate the options of using more than 300 billion euros of Russia's frozen assets for the reconstruction of Ukraine.
The leaders of the European Union announced the decisions they had taken on the basis of the war in Ukraine and energy security after their meeting over the past two days.
Accordingly, Russia was declared the sole responsible for the energy and economic crisis, and the targeting of Kyiv with drones and missiles was condemned.
The leaders of the EU also rejected the decision of annexation announced in four regions of Ukraine in accordance with the decision of the United Nations General Assembly.
The European Council called for the remaining 3 billion Euros of macro-financial assistance to Ukraine to be provided in a timely manner, with the intention of preparing for winter in Ukraine.
The Council also called on the European Commission to find options in line with EU and international law that would allow for the use of frozen assets of Russia and Russian businessmen to support the reconstruction of Ukraine.
Estonian Prime Minister Kaja Kallas said yesterday that over 300 billion Euros in Russian assets have been frozen to date, and that "let's use this to help Ukraine".