News Feed

Bloomberg: EU has legal authority to use frozen Russian assets to rebuild Ukraine.

1 min read

The EU has the "legal authority" to use at least 33.8 billion euros of frozen assets of Russia's central bank for the reconstruction of Ukraine, Bloomberg reported, citing unnamed sources.

The EU Council Legal Service said such a plan is “legally feasible, as long as the assets aren’t expropriated and certain conditions are met," according to Bloomberg.

“Those include a termination date, a focus on liquid assets, and clarity that the principal and interest would be returned to Russia at some point," according to the sources.

Since Russia launched its full-scale invasion on Feb. 24, 2022, the West has frozen around $300 billion in Russian central bank assets.

EU Justice Commissioner Didier Reynders said in October that it would be possible to keep these 300 billion euros as a “guarantee until Russia voluntarily participates in the reconstruction of Ukraine.”

Avatar
The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

Read more
News Feed
 (Updated:  )

Yevhen Zhukov, head of Ukraine's patrol police, resigned on April 19 amid controversy over the police response to the deadly mass shooting in Kyiv the previous day.

Video

In the latest episode of Ukraine This Week, Anna Belokur examines why Ukrainian refugees are becoming increasingly vulnerable to violence and other risks abroad. Since millions fled Russia’s full-scale invasion, Ukrainian refugees have faced attacks in countries across Europe and the United States.

Show More