European Commission to move ahead with proposal to use Russia's frozen assets for Ukraine, sources say ...Middle East

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European Commission to move ahead with proposal to use Russias frozen assets for Ukraine, sources say
source : Devdiscourse ( Middle East ) () 94
The European Commission plans to make a legal proposal this week to use frozen Russian assets to fund Ukraine while also leaving open the possibility of borrowing on financial markets or mixing the two options, four sources told Reuters on Tuesday. EU leaders agreed in October to meet Ukraine's "pressing financial needs" for the next two years but stopped short of endorsing a plan to use 140 billion euros ($162 billion) in frozen Russian sovereign assets in Europe as a loan for Kyiv, due to concerns raised by Belgium. Most of the Russian assets frozen in Europe are in the accounts of Belgian securities depository Euroclear and the Belgian government has repeatedly raised concerns about legal risks.

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