EU decides against seizing Russian assets
The European Union ruled out seizing frozen assets of Russia’s central bank, in a statement posted on the European Council website on March 20.
The decision came after the council meeting earlier the same day.
“Under EU law, Russian assets must remain frozen until Russia ends its aggressive war against Ukraine and pays for the damage it has caused,” the statement said.
EU officials added that Brussels remains “ready to step up pressure” on Russia by imposing further sanctions and tightening monitoring measures to weaken Moscow’s ability to continue funding its war effort.
The document noted that the EU and its member states will support a peace process and help secure a just and lasting peace for Ukraine—a goal that benefits both Ukraine and Europe.
German broadcaster DW reported that “several” EU countries have opposed seizing more than EUR200 billion ($217 billion) in Russian assets. Their arguments cited EU law, concerns about setting a dangerous precedent for European competitiveness in financial services, the need to support Ukraine with the interest these funds generate, and the fact that the assets have long served as a bargaining chip in negotiations with Moscow.
The military war may be swinging in our favor, but the information war continues.
Just as an army needs soldiers, so does a free society need its journalists to ensure that people have access to honest, trustworthy voices to understand the world around them.
For the past five years, The New Voice of Ukraine has been working tirelessly to push back against Russian narratives and defend democracy. But we cannot do it alone.
Please consider supporting us on Patreon for just $5 a month – your donation does directly to supporting journalists and ensuring that this front of the infowar says solid and defended.
Thank you.
Follow us on Twitter, Facebook and Google News
