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12h ago

EU Ministers Divided Over Fate of Frozen Russian Assets as Kallas Pushes Principle Debate

The European Commission plans to present an EU vehicle for more active stewardship within two months.

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Die EU-Außenbeauftragte Kaja Kallas hat die Rückgabe eingefrorener russischer Vermögenswerte angesichts der anhaltenden Angriffe auf die Ukraine bis auf Weiteres ausgeschlossen. "Es ist undenkbar, dass Russland dieses Geld wiedersieht, wenn es der Ukraine die verursachten Schäden nicht vollständig ersetzt", sagte Kallas in Kopenhagen. 

Overview

  • At an informal meeting in Copenhagen, ministers held a formal discussion but left the assets immobilized in line with European Council guidance.
  • EU foreign policy chief Kaja Kallas said the funds should not be returned if Moscow fails to pay reparations for war damage in Ukraine.
  • Belgium cited international-law protections and financial stability risks, noting about €190 billion sits at Euroclear, with Germany, France and Italy backing a cautious approach.
  • Interest earnings of roughly €2–3 billion a year have funded Ukraine indirectly, now securing and repaying a $50 billion G7 loan package.
  • Lithuania and Estonia urged rapid seizure, while a Lithuanian idea for an EU-led special-purpose vehicle gained traction as Economic Commissioner Valdis Dombrovskis readies a proposal.