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EU approves use of profits from frozen Russian accounts

Unión Europea, Rusia, sanciones
Brussels, May 22 (Prensa Latina) After several months of internal controversies, the European Union (EU) announced an agreement for the use of dividends obtained from Russia's frozen accounts in Western banks, local television reported.

We in the EU have approved the use of interest income from Russian Central Bank accounts in Western financial institutions to support Ukraine, Czech Foreign Minister Yan Lipavsky said on his X account.

Valeri Urban, executive director of the Euroclar financial group, where more than 200 billion euros from the Russian Central Bank are kept, referred to the planned scheme for the use of this money, which represents 90 percent of all of Russia’s frozen accounts.

The figure that the European Commission will actually receive will be range from 87 to 89 percent of the proceeds, after a 25-percent tax is paid to Belgian authorities, Urban explained.

With this scheme, the European Commission would receive between two and three billion euros, a practice described by Moscow as an open act of robbery and violation of the rights of its Central Bank by having deposits in Euroclar.

According to the local press, 90 percent of the above-mentioned amount will be used for financial aid and rearmament of Ukraine, while the remaining 10 percent will be used to meet the needs of the European military-industrial complex.

From Moscow, the Kremlin spokesman, Dmitri Peskov, warned that his country will file permanent appeals to this type of decisions in several judicial instances, which will turn into legal expenses for the promoters of this initiative.