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EU studies potential confiscation of frozen Russian assets for Ukraine — report

In October, G7 leaders issued a joint statement announcing that they had reached an agreement on $50 billion in loans to Ukraine

NEW YORK, December 17. /TASS/. The EU is assessing the legal and financial consequences of a potential confiscation of frozen Russian Central Bank assets for using them in favor of Ukraine, Bloomberg reported, citing sources.

According to the report, the EU diplomatic service and some member states are considering a variety of options, looking into whether court rulings will be required as a legal basis for a seizure of assets or damage calculations will suffice.

In October, G7 leaders issued a joint statement announcing that they had reached an agreement on $50 billion in loans to Ukraine. According to the statement, the loans will be paid back with future proceeds from Russia's frozen sovereign assets in line with the legal systems of G7 countries and international law. The US pledged to provide a $20 billion loan to Ukraine, while the remaining $30 billion would be supplied jointly by the G7 and the EU.

Earlier, Kremlin Spokesman Dmitry Peskov said Russia would make sure to respond to a theft of its assets in Europe. Moscow plans to legally prosecute the people involved in the effort, according to the spokesman. He said Europe took the worst possible path by deciding to use Russia's assets to help Kiev.

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