EU Countries Urging European Commission To Revive Efforts To Use Russian Assets For Ukraine FT

(MENAFN- UkrinForm) According to Ukrinform, the Financial Times reports this, citing people familiar with the matter.

Plans to finance Ukraine using more than €200 billion in Russian central bank assets frozen under EU sanctions collapsed last winter after Belgium, where most of the assets are held, blocked the initiative.

According to the sources, a coalition of EU member states, including Sweden, the Netherlands, Spain and Poland, will send a letter to the European Commission on Thursday, August 27, urging the EU executive to resume work on the proposal and clarify whether any progress has been made in developing alternative legal and technical frameworks that could circumvent Belgium's veto.

“Now is the time to start a new discussion about how we can make further use of Russia's frozen assets for Ukraine's, and our, benefit. This is the fair and smart way to make sure that Ukraine can defend itself and all of Europe,” said Swedish Foreign Minister Maria Malmer Stenergard.

One source said the letter would be“a call to the Commission to do the technical work” to use the assets and alleviate Kyiv's budget needs.

Ukraine has long urged the EU to use the frozen Russian assets to finance its defense against Russia.

Read also: Russia must pay for the war against Ukraine with its frozen assets – Latvian PM

As reported by Ukrinform, Ukrainian Foreign Minister Andrii Sybiha said at a joint press conference in Kyiv with Belgium's Deputy Prime Minister and Minister of Foreign Affairs, European Affairs and Development Cooperation Maxime Prévot that Ukraine believes it is time to step up work on a legal mechanism for using frozen Russian assets to support Ukraine.

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