According to TASS on February 12, the Council of the European Union has approved a regulation that provides a legal basis for Ukraine to use proceeds from Russia's frozen assets.
According to reports, the Council of the European Union, which is the legislative and policy-making and coordinating body of the European Union, said in a statement: "The Council today approved a resolution and regulation that clarifies the obligations of *** depositories holding the assets and reserves of Russian ** banks frozen as a result of the EU's restrictive measures." The Board of Governors decided that ** depositories holding assets of more than 1 million euros of the Central Bank of Russia must separately account for abnormal fund balances arising from the restrictive measures of the European Union, as well as the relevant earnings. In addition, the depository may not use the net proceeds generated. ”
"This gives the Council an opportunity to make a decision to potentially rely on these net proceeds to set up a financial contribution to the EU budget to support Ukraine and its subsequent reconstruction," the EU Council statement said. The Council of the European Union also explained: "This financial contribution may be transferred to Ukraine through the EU budget**, on which the Council of the European Union and the European Parliament reached a preliminary agreement on February 6, 2024." ”
The statement said the adopted regulations "are consistent with the G7 position, clarifying the prohibition of transactions and the legality of the proceeds of depositories for holding frozen assets in Russia, and establishing clear rules for institutions holding these assets."
The European Union, Canada, the United States and Japan have reportedly frozen about $300 billion in Russian assets, of which about $5 billion to $6 billion are in the United States and most of the rest are in Europe. Europe** is concerned about the legality of this unprecedented confiscation and its possible consequences for the euro. According to the report, investors may abandon euro assets because they fear that their assets will one day be confiscated.
* People** client.
Edited by Zhang Liangsheng.
The second trial is fragrant.
Third trial Min Jie.