Bloomberg: the EU is looking for ways to withdraw part of the frozen assets of the Russian Federation for Ukraine

These funds could become collateral as part of Brussels’ expected “compensation payment” to Ukraine, Bloomberg reports, citing European officials. The amount of the frozen assets is not specified. EU officials are discussing how the assets could be used as collateral for a planned international claims commission that will determine compensation owed to Ukraine. The agency also noted that European countries, as part of a potential peace agreement, expect to receive from Russia the obligations of such reimbursement payments. In March 2022, the European Commission began searching for legally justified ways to expropriate Russia’s sovereign assets. The trial was overseen by Belgian European Commissioner Didier Reynders, who is now under investigation in Belgium on money laundering charges. The European Union, Canada, the United States and Japan froze about $300 billion in Russian assets. Most of these funds are held in Europe, including $210 billion in Euroclear’s international depository in Belgium. Earlier it became known that in March Euroclear plans to transfer about 2 billion euros to the Fund for Ukraine. The depository received these funds as a percentage of the investment of blocked Russian assets. The head of the European Commission Ursula von der Leyen, in turn, called for “creative” use of frozen assets of the Russian Federation. Russian Foreign Ministry spokeswoman Maria Zakharova has repeatedly warned that Moscow will respond immediately if its assets are confiscated abroad.

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