Using Russian assets to help Ukraine threatens the reputation of the euro – Kommersant

Europe’s use of Russia’s frozen assets to finance Ukraine could lead to reputational costs for the euro, said Luis de Guindos, vice-president of the European Central Bank (ECB). He called the euro the second most important world currency and expressed the opinion that “there are other ways to finance the restoration of Ukraine.”

“Our position regarding the use of dividends and interest from frozen assets is clear. First, it must be a global decision, ideally involving all G7 members. In addition, we must be careful because this may result in reputational costs. We must look beyond the boundaries of this separate conflict; there may be consequences for the euro as a safe currency,” the head of the ECB said in an interview with publications De Standaard And La Libre Belgique (quote from RIA Novosti).

In June Bloomberg reportedthat the European Union (EU) has not found legal grounds to confiscate Russian assets. According to the agency, EU countries called do not rush to use these assets. Kremlin promised, which will respond to asset confiscation, but is unlikely to be a mirror one. November 8 US House Foreign Affairs Committee approved a bill allowing the transfer of part of the frozen Russian assets to Ukraine.

Read about what happens after the entry of Russian troops into Ukraine in online broadcasts “Ъ”.

Laura Keffer