As it became known to Bloomberg, the heads of EU member states supported a plan to use the frozen assets of the Central Bank of Russia in favor of Ukraine, which provides for the collection of income tax from them.
They supported exploring the use of profits from the assets of the Russian Central Bank, which, according to estimates, could amount to about three billion euros per year. EU plans to enlist the support of the G7 countries in this matter. According to agenciesBrussels has already been in talks with Washington, discussions will continue in the coming weeks, and the UK has previously supported a plan to use the profits.
A detailed proposal will be presented by the European Commission at the end of the summer, but it is not yet clear when this will happen, as the EC faces a number of political and legal challenges. There is a certain legal risk that the plan could be challenged in court, as well as the fear that the interest and income received from the frozen sovereign assets of the Russian Federation belongs to Russia. Earlier, the European Union came to the conclusion that it is impossible to legally confiscate the assets of the Russian Central Bank for use in the restoration of Ukraine.
However, Britain will not lift sanctions against the Russian Federation until Ukraine receives compensation from it for the damage caused by the aggression. The owners of sanctioned assets in Britain will be able to transfer them without preconditions, including the lifting of sanctions, for the restoration of Ukraine.
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