EU's Dilemma: Utilizing Russian Assets for Ukraine Aid
European Central Bank President Christine Lagarde stressed the importance of following international law regarding the use of immobilised Russian assets to aid Ukraine. The EU is exploring options to finance Ukraine's defence and reconstruction with Russian assets frozen in the West, worth approximately 210 billion euros.
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- Germany
The European Central Bank's President, Christine Lagarde, emphasized the necessity of adhering to international law when considering the use of immobilised Russian assets to assist Ukraine. Her statements were made during a session with European lawmakers in Strasbourg.
Lagarde highlighted the need for any proposed scheme to comply with international rules, ensuring that the principles of legality are upheld in the financial and geopolitical arenas. The discussion reflects ongoing efforts by the EU to address Ukraine's financial needs amid the conflict.
Currently, the EU is actively seeking methods to utilize parts of the estimated 210 billion euros in Russian sovereign assets frozen in the West following Russia's invasion. These assets are being considered as potential funding sources for Ukraine's defence initiatives and reconstruction plans.
(With inputs from agencies.)
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