• Fri. Mar 1st, 2024

United States Applauds EU’s Decision to Use Frozen Russian Assets for Ukraine’s Support

ByEditor

Feb 13, 2024
US supports EU’s new measures to use frozen Russian assets to support Kyiv

The United States is pleased to see the European Union adopt a decision and regulation that allows for the use of profits from frozen Russian assets to support Ukraine, according to Matthew Miller, spokesman for the US Department of State. During a press conference, Miller stated that any action taken by the EU to use Russian assets for the benefit of Ukrainians is greatly encouraged by the US.

In addition, Miller mentioned that discussions with allies and partners, including the G7, are ongoing to explore additional measures that can be taken within their respective systems and international law to make Russia cease its aggression against Ukraine.

The EU has recently clarified the obligations of Central Securities Depositories (CSD) that hold assets and reserves of the Russian Central Bank which are immobilized due to its restrictive measures. This move comes after Russia’s invasion of Ukraine in 2014, which resulted in around €260 billion in Russian Central Bank assets being blocked by international community. Two-thirds of these assets are currently immobilized in the EU while an additional 19 billion euros have been frozen from individuals and companies included on the sanctions list due to their support for the war.

The US will continue working with allies and partners to ensure that Russia pays for the damage caused in Ukraine through all possible channels.

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