The EU wants to steal Russian money and give it to Ukraine. How is that supposed to work?

The bloc’s leaders have been pressuring Belgium for months to allow it to seize Russian sovereign funds

EU leaders are considering a long-developed and highly controversial plan to use Russian sovereign funds frozen in Belgium to finance Ukraine’s conflict with Russia.

Up to now the EU has given Kiev about €180 billion ($208 billion). Reconstruction costs at present are estimated at approximately €480 billion ($556 billion). Ukraine’s economy is crumbling and it has just announced a record war budget.

What’s the scheme?

The EU is proposing to “borrow” Russia’s money (reportedly some €160 billion) from Euroclear, a privately owned company in…

Read the full article at RT.COM