Exclusive: EU lawmakers join pressure to use 200 billion euros in Russian assets to help Ukraine
Ukraine needs substantial, long-term financing now, but Belgium should not have to shoulder Europe's responsibility alone, EU lawmaker Karin Karlsbro told the Kyiv Independent.
European Parliament members have penned an open letter to EU leaders, urging the immediate utilization of a staggering 200 billion euros ($230 billion) in frozen Russian assets to bolster Ukraine's efforts. Swedish lawmaker Karin Karlsbro spearheaded the initiative, emphasizing the urgent need for substantial, long-term funding for Ukraine.
By leveraging these assets, the European Union could send a resolute message to Russian President Vladimir Putin that time is not on Russia's side. The letter was first reported by the Kyiv Independent on September 9, 2023, and was signed by 122 members of the European Parliament who expressed strong backing for the proposal. The MEPs also supported the idea of transferring the immobilized Russian accounts to a new EU custodian, thus mitigating legal risks and sharing the burden with the Central Bank of Russia.
This move would ease Belgium's concerns over potential legal challenges, as 180 billion euros of the frozen assets are currently held by Euroclear, a financial clearing house based in Belgium. The letter also highlights the EU's commitment to Ukraine and calls for the European Commission to present a formal proposal, urging an immediate response to ensure the EU's support for Ukraine remains unwavering.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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