EU Explores Using Frozen Russian Assets to Fund Ukraine Rebuilding

European leaders want to find legal ways to use €200 billion in frozen Russian central bank assets and €30 billion in frozen Russian oligarch assets to help rebuild Ukraine after Russia's invasion.
Drawing interest off the frozen assets or taking bond coupons and taxing profits are being considered as alternatives to directly seizing the money, which has no legal precedent.
The EU is working with the US, Canada, Britain, and Japan to build consensus on using the Russian assets, but the ECB worries it could damage the euro's status as a reserve currency.
One proposal is to draw €3 billion a year in interest off the frozen assets, but some EU members and the ECB think this could undermine confidence in the euro.
The EU proposes levying the interest income from €200 billion in frozen Russian assets held by Euroclear, a Belgium clearinghouse, to help fund Ukraine's reconstruction.