Home Business News EU to give Kyiv Russia’s frozen assets which could see immediate ‘retaliatory measures’

EU to give Kyiv Russia’s frozen assets which could see immediate ‘retaliatory measures’

by LLB political Reporter
25th Jun 24 7:43 am

Joesph Borrell the EU’s top diplomat has said that Ukraine will receive money from frozen Russian assets.

From July Ukraine will receive two payments and Kyiv can use the revenue from the frozen assets.

Borrell said during a press conference on Monday, “We have these revenues coming from the frozen assets, and we have to look for a way in order to use them, avoiding any kind of blockage.

“We have a process in order to make this work quickly. The first tranche of money will come next week, in July. The second will come some months later.”

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Borrell said that Ukraine needs more help and now, the EU’s top diplomat added, “I hope that the ministers will support the proposal that we have tabled in order to make this support increase using the Russian revenues.”

At the start of Vladimir Putin’s war in Ukraine the West froze around $300 billion of assets, with two thirds being held in Belgium.

British Ambassador to Ukraine Martin Harris has said during a visit to Kyiv that he welcomes frozen Russian assets to be used to pay for “Ukraine’s defences” against Putin.

Harris said that the war in Ukraine actually started 10-years ago and he believes that the war will last for quite some time, as Russia always prepares for long wars.

Harris said, “I believe that Putin has just one sole chance, and this is fatigue of partners of Ukraine.

“And the three conferences we held have clearly demonstrated just one thing: we are not fatigued, we stand with Ukraine. Now and forever.”

Moscow warned Europe in April that Russia has a “prepared answer” to retaliate if almost $300 billion of Russian assets are seized by the West to used to finance Ukraine.

RIA state news agency quoted Valentina Matvienko, the speaker of the Russian upper house of parliament saying, “We also have a prepared answer.

“We have a draft law, which we are ready to consider immediately, on retaliatory measures.

“And the Europeans will lose more than we do.”

The Ukrainian President Volodymyr Zelensky has previously said that the West’s decisions to use “$300 billion” of “Russian assets frozen” is “legitimate.”

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