European Commission offers new ways to secure sanctions on frozen Russian assets — Reuters
One of the options includes extending the asset freeze for five years with a review every 12 months
BRUSSELS, September 13. /TASS/. The European Commission has presented EU ambassadors with three new possible ways to renew sanctions on Russia's central bank assets for longer periods to secure the further transfer of $50 billion in aid from the G7 countries to Ukraine, Reuters reported citing sources.
According to them, one of the options includes extending the asset freeze for five years with a review every 12 months.
The second option involves extending the asset freeze every 36 months with a unanimous vote. The third option is to extend the validity of all sanctions related to Russia to 36 months. The agency recalls that at the moment the sanctions are extended every six months.
The European Union, Canada, the United States and Japan have frozen Russia's assets worth about $300 billion after Moscow launched the special military operation. Of these, about $5-6 billion are in the United States, and most are in Europe, including the international Euroclear platform in Belgium (where $210 billion are stored). As Russian Foreign Ministry Spokeswoman Maria Zakharova warned earlier, Moscow will immediately take retaliatory steps to the confiscation of its assets in the West, it has a whole arsenal of retaliatory political and economic measures.