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 ($217 billion) in Russian assets. Their arguments cited EU law, concerns about setting a dangerous precedent for European competitiveness in financial services, the need to support Ukraine with the interest these funds generate, and the fact that the assets have long served as a bargaining chip in negotiations with Moscow.
Will you support Ukraine’s free press?
Dear reader, as all news organizations, we must balance the pressures of delivering timely, accurate, and relevant stories with requirements to fund our business operations.
As a Ukrainian-based media, we also have another responsibility – to amplify Ukraine’s voice to the world during the crucial moment of its existence as a political nation.
It’s the support of our readers that lets us continue doing our job. We keep our essential reporting free because we believe in our ultimate purpose: an independent, democratic Ukraine.
If you’re willing to support Ukraine, consider subscribing to our Patreon starting from 5$ per month. We are immensely grateful.
Please help us continue fighting Russian propaganda.
Truth can be hard to tell from fiction these days. Every viewpoint has its audience of backers and supporters, no matter how absurd.
If conscious disinformation is reinforced by state propaganda apparatus and budget, its outcomes may become deadly.
There is no solution to this, other than independent, honest, and accurate reporting.
We remain committed to empowering the Ukrainian voice to push against the muck. If you’re willing to stand up for the truth – consider supporting us on Patreon starting from 5$ per month. Thank you very much.
Will you help tell Ukraine’s story to the world?
Twenty years ago, most people hadn’t even heard of Ukraine. Today, the country is on everyone’s lips and everyone’s headlines. War pushed us on the front page. But there are many other things we do that we are proud of – from music and culture to technology.
We need your help to tell the world Ukrainian story of resilience, joy, and survival. If you’re willing to back our effort, consider supporting us on Patreon starting from 5$ per month. We are immensely grateful.
Follow us on Twitter, Facebook and Google News
