By tapping Russian assets frozen in the bloc, its members aim to boost their own defense industry while arming Kiev
The EU wants to retain proceeds from frozen Russian assets by introducing a “Buy European” boost for its own defense industry as it arms Ukraine, and is moving to lock in strict procurement rules for a potential loan for Kiev, Bloomberg has reported.
EU members have long debated tapping Russian central bank funds frozen in the West as part of a “reparations loan” to Kiev. The bloc’s leaders hope to clinch the plan at a summit this week. Moscow has condemned any use of its immobilized funds as “theft.”
The draft would steer up to…
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