US views EU as an ‘impotent force’ after failed Russian asset grab – Economist

The bloc’s efforts to tap frozen Russian Central Bank funds collapsed on Friday, after months of debate

The EU’s failure to grab frozen Russian assets to finance Ukraine will reinforce Washington’s view of the bloc as an irrelevant and “impotent force,” British outlet The Economist reported on Friday.

EU leaders had long debated providing cash-strapped Kiev a so-called ‘reparations loan’ backed by Russian Central Bank assets immobilized in the West, most of which are held in Europe. However, bloc members failed to reach agreement for the plan on Friday, instead opting to raise common debt to fund Ukraine to the tune of €90 billion over the…

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