Greece is confident that Ukraine will receive 50-60 billion euros from Russian assets

Spyridon Lambridis, Special Representative of Greece for Ukraine, in interview AFP expressed confidence that EU will receive 50-60 billion euros from Russian assets to support Ukraine.

According to Lambridis, the European Union is approaching a consensus on a more nuanced approach to seizing proceeds from Russian assets – both public and private – in order to create a fund to support Ukraine. quotes his “EP”:

“I think it’s a matter of a few months.”

The Greek Special Representative estimates that the EU mechanism will generate between 50 and 60 billion euros. He says:

“It’s a small thing, but at least it’s a step towards showing them (the Russians): look what you’ve done.”

Spyridon Lambridis expressed confidence that the EU will agree on a scheme for using income from Russian sovereign assets on its territory. The G7 will block Russian assets until the end of the war. The Greek diplomat opposed the confiscation of Russian assets, since it is contrary to international law and, in turn, will lead to the confiscation of Western assets in Russia. He noted:

“Of course, the Russians will react to this (use of profits). But even if they take us to international courts, I think we will win.”

On February 12, the Council of the European Union adopted a decision that brings closer the creation of a mechanism for using excess profits from frozen Russian assets in the EU in favor of Ukraine.

We wrote earlier that Russia promised respond “symmetrically” to the confiscation of its foreign assets by the United States or its allies. International sanctions imposed after the Russian invasion of Ukraine blocked some Russian assets abroad, including approximately $300 billion owned by the Russian Central Bank. The campaign by politicians and activists to seize these assets and transfer them to Kyiv is gaining momentum.

Russia blocked the funds of non-residents from countries it considered “unfriendly” in special “C” accounts after the start of the war. As of early November 2022, these accounts held more than 280 billion rubles ($3 billion).

Source link