BRUSSELS, December 17. /TASS/. Failure to release Russia’s frozen assets as part of the so-called reparations loan for Ukraine would be "a catastrophe for the EU’s standing in the world," Politico Europe reported, citing sources.
According to the newspaper, the odds of Ukraine profiting from the assets "became worse rather than better" during consultations on Tuesday. An anonymous European official said he "wanted to cry," since there was no progress on the decision to expropriate them.
In addition, the qualified majority vote on using the assets, which the paper called a "nuclear option," also splits the EU. According to several officials, this decision "would rip open an already fractured bloc and likely plunge it into a real crisis."
On December 12, the European Union’s Council formally decided to permanently freeze Russia’s sovereign assets. The European Commission aims to secure the EU member states’ approval to expropriate them at the December 18-19 summit in Brussels. Previously, Belgian Prime Minister Bart De Wever called the expropriation of assets "theft." Brussels demands legally binding guarantees from all the EU countries that would ensure joint compensation of Belgium’s financial losses following Russia’s response.
Russian President Vladimir Putin previously characterized the proposed confiscation as an act of theft, while Russian Justice Minister Konstantin Chuichenko told TASS that the country’s leadership has already been presented with options for responding to a potential seizure of Russian assets by Western nations. Kremlin Spokesman Dmitry Peskov emphasized that Moscow will inevitably implement countermeasures.