Moscow has repeatedly described any unauthorized use of its immobilized funds as “theft”
The European Commission has announced a new financial aid package for the cash-strapped Ukrainian government using the revenue generated by frozen Russian assets. The sum amounting to €1.4 billion ($1.63 billion) would largely be spent on covering Kiev’s debts to its Western backers, the statement said.
Ukraine’s Western supporters froze roughly $300 billion in Russian sovereign assets after the escalation of the conflict in 2022. The majority is held at the Belgian-based Euroclear depository. In late 2023, the EU decided it could tap the annual revenues…
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