EU ambassadors agreed on the use of income from Russian assets
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Ambassadors of EU member states approved the European Commission’s proposal to confiscate proceeds from Russia’s frozen assets. This was announced on Monday, January 29, at the Belgian permanent mission to the integration association.
The Belgian mission said European diplomats had “just agreed in principle on a proposal to use proceeds from frozen assets to support the reconstruction of Ukraine.”
However, no details have yet been provided regarding the decisions taken in this area.
Earlier, the Russian Ministry of Foreign Affairs warned that Moscow would find a way respond adequately and effectively to all steps of the West to confiscate Russian assets and real estate. The department noted that they have repeatedly spoken about the illegitimacy of such steps by Western countries.
The head of the Bank of Italy, Fabio Panetta, noted that the confiscation by the European Union of profits from Russian assets would reduce the attractiveness of the euro and contributed to the emergence of alternative currencies.
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