In some EU countries, there are fears of transferring to Ukraine the profits from frozen Russian assets – Bloomberg

Some leading European Union countries are approaching the use of profits from the frozen reserves of the Central Bank of Russia to support Ukraine with caution.

Bloomberg reports this, citing sources.

In particular, France, Germany, Italy and Belgium advocate for a “more gradual approach.” They want to ensure that the formula for using profits from Russian assets is legally justified and does not jeopardize financial stability.

On the other hand, the European Commission insists on implementing this decision by the end of the year, considering it an alternative to allocating direct assistance of 50 billion euros, which Hungary is blocking.

In the EU, over 200 billion euros of the Central Bank of Russia are frozen with the majority held in the Belgian clearinghouse Euroclear. They have generated almost 3 billion euros in profits since their freezing until the third quarter of this year.”