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New EU measures on frozen Russian assets to support Kyiv welcomed by the US

ByEditor

Feb 13, 2024

The spokesman for the United States Department of State, Matthew Miller, expressed his satisfaction this Monday after the European Union adopted a decision and a regulation to pave the way for the possible use of profits from frozen Russian assets to support Ukraine. Miller said during a press conference that they are encouraged by any action the EU may take to use Russian assets for the benefit of Ukrainians. He also assured that they will continue talking with their allies and partners to use all possible channels to make Moscow pay for the destruction caused in Ukraine.

The Twenty-seven have adopted this Monday a decision and a regulation that clarify the obligations of the Central Securities Depositories (CSD) that hold assets and reserves of the Central Bank of Russia (BCR) that are immobilized as a consequence of the EU’s restrictive measures, freezing the relevant BCR assets held by financial institutions in EU States. Since the start of the invasion of Ukraine, the international community has been able to block around €260 billion in Russian Central Bank assets in the form of securities and cash in the jurisdictions of G7 partners, the EU and Australia, two-thirds of which are immobilized in the EU. In addition, another 19 billion euros have been frozen from people and companies included on the sanctions list as a result of their support for the war.

By Editor

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