The European Union has agreed to set aside billions of euros of profits from frozen Russian Central Bank assets, paving the way to allow the profits to be transferred to Ukraine, the Financial Times reported on Jan. 29, citing a draft text.

The European Union has agreed to set aside billions of euros of profits from frozen Russian Central Bank assets, paving the way to allow the profits to be transferred to Ukraine, the Financial Times reported on Jan. 29, citing a draft text.

The EU proposed a plan on Dec. 12 to seize about 15 billion euros ($16.2 billion) in projected profits generated by frozen assets of Russia’s Central Bank and transfer them to Ukraine.

The European Commission estimated that the plan would generate about 3 billion euros ($3.2 billion) per year, or 15 billion from 2023-2027.

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  • Pup BiruEnglish
    32·
    5 months ago

    could definitely backfire… who knows if NATO want an excuse to show russia that no matter how small they’re not fucking around

    • The Snark Urge@lemmy.worldEnglish
      4·
      5 months ago

      To my point, I think that’s exactly why we’re suddenly seeing a bunch of rhetoric in the news describing our young people as “the pre war generation” and talk of ramping up NATO funding and activity.

      Edit to add: Weird that people would downvote you, we’re just talking here. My preferred outcome is that NATO posturing scares them off, and the extra funding contributes to more Ukrainian victories.