Once again, the EU grapples with thorny questions about Russian assets
Russia's immobilised assets are back on the table, a year after the EU tried and failed to use them to support Ukraine. Could a new effort to unlock them succeed?
Ukrainian Foreign Minister Andrii Sybiha expressed gratitude for a joint letter from the foreign ministers of Sweden, the Netherlands, Poland and Spain, urging EU High Representative for Foreign Affairs and Security Policy Kaja Kallas to address the use of frozen Russian assets to support Ukraine during their upcoming informal Gymnich meeting on September 1-2.
Sybiha emphasized the fairness and logic of utilizing Russian assets, alongside European taxpayer contributions, to address the escalating defense and reconstruction expenditures resulting from Russia's aggression. He was optimistic that experts could devise solutions compliant with European norms, international law, and the rule of law, while distributing risks equitably among all member states.
Sybiha anticipated productive discussions with EU colleagues to explore potential paths forward. The four foreign ministers - Maria Malmer Stenergard of Sweden, Tom Berendsen of the Netherlands, Radoslaw Sikorski of Poland, and Jose Manuel Albares Bueno of Spain - requested Kallas to incorporate the use of frozen Russian assets to aid Ukraine on the agenda for the aforementioned meeting.
The letter, dated August 26, was also addressed to Helen McEntee, Ireland's foreign minister, who currently presides over the EU, alongside Kallas. Copies of the letter were sent to European commissioners for Enlargement Marta Kos and Economy Valdis Dombrovskis. The ministers stressed the absence of any indication that Russia intends to cease its aggression, stressing that the war's escalating costs impact EU member states as well.
They advocated for enhanced financial support for Ukraine in both the short and long term, with predictable and structured EU assistance. Using Russia's immobilized assets for Ukraine would ensure reparations to Ukraine, reduce the burden on EU taxpayers, and intensify pressure on Russia. The letter's signatories suggested inviting European Commission technical experts, in close coordination with member states, to investigate novel methods of using immobilized assets to aid Ukraine while ensuring risks are shared equally among all EU member states, rather than being borne by a single nation.
Compliance with international law was emphasized as crucial. The ministers proposed discussing this matter during the forthcoming informal gathering of EU foreign ministers, scheduled for September 1-2.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
