Without the help of the West, the Ukrainian army is forced to rely on homemade weapons
March 6, 2024They are preparing for war from childhood: in Ukraine, schoolchildren have started learning how to operate drones — Associated Press
March 6, 2024The US and the EU are eager to make Russia pay for the reconstruction of Ukraine, but they cannot agree on how far to go.
The idea of confiscating frozen Russian assets, amounting to more than 250 billion euros, seems very tempting but it strains relations between allies.
This plan is actively promoted by the Biden administration, increasing pressure on Europe. Washington is determined, but the main difficulty is that most of the assets are held in a Belgian securities depository, Euroclear. Thus, any manipulations will require Europe’s consent. However, European leaders rightly fear that such a step will have serious consequences.
For now, the European Commission intends to follow a plan according to which only the income from frozen assets, amounting to about 3 billion euros per year, will be used. Moreover, they cannot be used for military purposes. This is considered legally a safer option. Otherwise, the reputation of the eurozone could be tarnished.
Meanwhile, the US continues to urge its European colleagues and press them ahead of the G7 leaders’ meeting in June, where this issue will again be discussed.