European Commission intends to collect EUR 15 bln for Ukraine from income from Russian assets frozen by EU – media
The European Commission intends to collect EUR 15 billion to help Ukraine from proceeds from frozen Russian assets, the Financial Times said.
"Brussels will propose on Tuesday to ringfence profits generated from Russia's frozen assets in the EU, aiming to eventually skim off up to EUR 15 billion for Ukraine's benefit," the publication said.
According to the proposal, only revenues from the assets of the Russian central bank will be targeted.
According to the publication's sources, the European Commission will initially require that profits received from frozen assets be placed in separate accounts.
In the second stage of the plan, the profits would be moved to the EU's common budget to help support Ukraine, the interlocutors said.
The commission estimates this would generate up to EUR 3 billion a year, or EUR 15 billion between 2023 and 2027, though officials warned that the amount would depend on interest rates through the period.
It is clarified that the amount will depend on interest rates during this period.
The newspaper said EU member states need to unanimously support the plan, as well as further steps to implement it, before the money can be transferred to Kyiv.
