G7 countries privately acknowledge the rejection of idea of withdrawing assets of Russian Federation

12:19 - 3.05.2024

May 3, Fineko/abc.az. G7 of countries privately admit that they are no longer considering the idea of complete confiscation of frozen Russian assets.

ABC.AZ reports that instead, Western countries are "exploring other ways to extract financing" for Ukraine from Russian funds. At that, the main reason for the reluctance of EU countries to confiscate assets was the "fear of retaliatory measures".

The plan of the EU countries, in particular, involves the use of "windfall revenues" generated by the assets of the Russian Federation at the disposal of the Euroclear depository for the implementation by the countries of the community of joint purchases of weapons for Ukraine. This option is considered "politically less risky and legally more reasonable" because it does not affect the assets themselves, experts say. At the same time, the amount of funds that this scheme will allow to gain is estimated at about €3 bn a year.