The funds have come as loans to be repaid with the profits from Moscow’s frozen assets
The EU has allocated to Ukraine €9 billion ($10.5 billion) in loans backed by the profits from Russia’s frozen central bank assets year to date, European Commission data released on Friday shows. Russia has called the scheme illegal and destructive to the credibility of the Western financial system.
Western nations froze an estimated $300 billion in Russian assets following the escalation of the Ukraine conflict in 2022, some €200 billion of which are held by Brussels-based clearinghouse Euroclear. The funds have accrued billions in interest, and the West…
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