European Union leaders are considering a proposal to use about $3 billion a year in profits generated by frozen Russian assets to help fund Ukraine’s war effort.
European Union leaders are considering a new proposal to use about $3 billion a year in windfall profits generated by frozen Russian assets to help fund Ukraine’s war effort. The European Commission said it has presented a proposal that will be discussed at a summit of EU leaders Thursday.
Around €200 billion sits in the EU — mostly at Euroclear, a financial institution that keeps assets safe for banks, exchanges and investors. Euroclear is accumulating vast amounts of cash because of payments associated with frozen Russian assets. These payments include, for example, interest paid on bonds, known as coupons, or the proceeds generated by securities that mature and are reinvested. Last month, the group said it had earned €5.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European Union Wants to Buy Weapons for Ukraine With Confiscated Russian MoneySource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
European Union leaders agree to open membership talks with UkraineUkraine has seemingly moved one step closer to EU membership after leaders in Brussels agreed to open membership negotiations with the war-torn nation.
Read more »
EU leaders to drum up more support for Ukraine amid appeals for a new sense of urgencyEuropean Union leaders are set Thursday to underscore their support for war-torn Ukraine
Read more »
The European Fashion Alliance Hosts the Status of European Fashion in BrusselsPart of the European Fashion Alliance's goal is to involve young talents and voices in the fashion conversation.
Read more »
European Union executive branch will recommend that members open accession negotiations with BosniaThe European Union’s executive arm says it will recommend that member countries open accession negotiations with Bosnia-Herzegovina.
Read more »
How the European Union is caught in a trap of its own makingAttempts to punish Russia over the Ukraine conflict and some member nations have boomeranged spectacularly on the bloc.
Read more »