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EU rushing to pass special law for perpetual blocking of Russian assets — FT

The European Commission wants to use revenues from frozen Russian assets to extend a loan to Ukraine amounting to about 90 bln euro during the next two years

LONDON, December 10. /TASS/. Member-states of the European Union intend to expedite the decision on the perpetual blocking of Russian assets amounting up to 210 bln euro in order to circumvent the possible veto from Hungary, The Financial Times (FT) reports, citing sources.

It is planned for this purpose to urgently adopt a law stipulating extraordinary powers for overcoming the national veto on sanctions, the newspaper said.

The European Commission wants to use revenues from frozen Russian assets to extend a loan to Ukraine amounting to about 90 bln euro during the next two years. Implementation of such scheme requires assets to be immobilized for an indefinite period and not for six-month periods that can only be extended by the unanimous decision of all 27 member-states, the newspaper said. According to FT, EU officials are concerned that Hungary may block the extension of sanctions, especially in case the US will change its position on the sanction policy.