EU takes another step towards transferring frozen Russian assets to Ukraine: what is known

On Monday, January 29, the European Union took another step towards the transfer of frozen Russian assets to Ukraine. EU ambassadors have reached an agreement on the use of profits from frozen Russian assets.

This was reported by the press service of the Belgian Presidency of the Council of the EU on social network X, formerly known as Twitter. "EU ambassadors have just reached an agreement in principle on a proposal to use the excess profits associated with frozen assets to support Ukraine's recovery," the statement said.

According to Rickard Jozwiak, Radio Liberty's European Affairs Editor, EU ambassadors "gave the green light to the first step" towards using frozen Russian assets in favor of Ukraine - "putting the proceeds of frozen Russian assets into a separate account."

"Now it's a matter of agreeing on the next step: the actual sending of money to Ukraine," the journalist said.

Earlier, the US Senate Foreign Relations Committee supported a bill to confiscate Russian assets in favor of Ukraine. The Senate called the unprecedented "Restoring Economic Prosperity and Opportunity for Ukrainians Act" a "big hammer" for the aggressor country, Russia.

As reported by OBOZ.UA, the EU has already decided to impose a tax on frozen Russian assets, which will be used to provide financial assistance to Ukraine through a special fund. This plan is an alternative to direct confiscation of the Russian Central Bank's funds, which the EU lacks the willpower and legal grounds to carry out.

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