Russia will pay the price for the war. literally. Profit conversion will begin

The European Union has prepared a draft law that assumes the transfer of funds from interest on frozen profits to Ukraine Russian assets already in July this year.

As Bloomberg notes, the initiative has been adopted and should have the support of all EU member states.

The project shows that Ukraine will receive part of the profits from the frozen assets of the Bank of Russia collected After February 15, 2024. According to the European Union's plan, funds will be collected twice a year until the sanctions imposed on the Russian Federation are lifted.

According to the assumptions, the EU will send approx 3 billion euros annually to buy weapons And the development of the national defense industry.

After the Russian invasion of Ukraine two years ago, Western countries froze 260 billion euros in Russian central bank reserves. About 200 billion of them are deposited in the Belgian clearing house Euroclear. Every day, interest and investment gains accumulate on this capital, which Last year it totaled 4.4 billion euros – Refers to Deutsche Welle.

“According to the EU legal interpretation, these profits do not belong to the Russian state because they arise only due to the impossibility of transferring reserves due to Russian sanctions. According to the logic. European Union lawyers believe that the use of these extraordinary revenues will not violate the principle of state immunity“- we read in “Handelsblatt”.