All news

European Commission looking for new ways to use Russian assets — FT

According to the source, currently there are no new options

BRUSSELS, September 11. /TASS/. The European Commission has resumed efforts to find "legally sound ways" to use frozen Russian assets to support Ukraine, the Financial Times (FT) reported.

The EC has resumed work on options that could persuade EU governments to approve the use of Russia’s frozen assets for Ukraine, according to the publication.

Earlier, Belgium blocked and flatly refused to discuss the latest attempt to expropriate frozen Russian assets initiated by Spain, the Netherlands, Poland, and Sweden. Four countries have advocated resuming discussions on the expropriation and use of Russian sovereign assets blocked at Euroclear in Belgium to support Ukraine’s military actions. Proposals were also made within the EU to transfer Russian assets from Euroclear to a new EU entity to remove them from Belgian jurisdiction.

"Currently there are no new options, we’re just looking at ways there could be," one EU official told the FT. A Belgian official said the government’s position "has not changed". "Any proposal involving the immobilized Russian assets must provide a complete and legally watertight solution covering both the assets and the liabilities of Euroclear and of the Belgian State," they added.