U.S. and EU Contemplate Redirecting Frozen Russian Assets to Aid Ukraine
In a joint summit statement, the United States and the European Union have revealed their plans to explore the possibility of redirecting certain revenues derived from immobilized Russian assets to support Ukraine’s recovery. This initiative, however, comes with the condition that any such actions must be in accordance with existing legal provisions.
“As part of our efforts to aid Ukraine, in the short term, we will explore how any extraordinary revenues held by private entities stemming directly from immobilized Russian sovereign assets, where those extraordinary revenues are not required to meet obligations towards Russia under applicable laws, could be directed to support Ukraine and its recovery and reconstruction in compliance with applicable laws,” the US and the EU said in a joint statement on Friday.
