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| EU is set to complete a study on the use of frozen Russian assets. (Source: Shutterstock) |
At the EU Council meeting in Brussels (Belgium), Mr. Borrell said that the countries have reached a political agreement to move to the final stage of studying the possibility of using Russian assets.
“I can say that we have reached a political agreement to complete the work on the December proposal, focusing on the use of revenues,” the EU representative said.
Previously, Belgian Ambassador to the US Jean-Arthur Regibo warned that the seizure of assets of the Russian Central Bank could lead to a split in the global financial system.
Meanwhile, former World Bank (WB) Director Robert Zoellick has called on the West to "not be afraid" of seizing frozen Russian assets to transfer to Ukraine because the consequences are uncertain.
About $300 billion of Russian assets are currently frozen in the West, as the US and its allies have imposed a ban on transactions with the Russian Central Bank and Ministry of Finance , after Moscow launched a special military operation in Ukraine in February 2022.
In a bid to help rebuild the conflict-torn Eastern European nation, Western officials have been working to launch an effort to seize frozen Russian assets in Belgium and other European cities.
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