Politico learned about Belgium's allies in refusing to seize Russian assets
Italy, Belgium, Malta and Bulgaria opposed the European Union's proposal to transfer frozen Russian assets worth about €210 billion to Ukraine. This was reported on December 12 by the Politico newspaper with reference to an internal document of the participating countries.
"We invite the commission and the council to continue studying and discussing alternative options that comply with EU law and international law, with predictable parameters that pose significantly lower risks," the document says.
The document emphasizes that voting at this stage does not predetermine the final decision on assets to be made by the leaders of the EU countries. The officials noted that the alternative they proposed reduces the likelihood that Russia will be able to recover its funds as part of a future peace settlement, which in turn reinforces the EU's separate plan to use the money.
Critics, however, point out that issuing joint debt will increase the already high debt burden of countries such as Italy and France, and its adoption requires the unanimous approval of all EU members, which may be blocked by countries that maintain ties with Moscow, including Hungary.
The day before, Belgium demanded that the EU break off investment agreements with Russia. On December 3, the European Commission approved a "potential reparation loan" for Kiev, which implies the expropriation of sovereign Russian assets in Europe. Von der Leyen noted that Ukraine needs an amount of €135 billion by the end of 2027.
Kremlin spokesman Dmitry Peskov said on December 7 that countries and specific people would be responsible for the possible seizure of Russian assets. Additionally, he recalled the statement of the International Monetary Fund (IMF) on the consequences of the seizure of Russian assets, adding that the fund's activities form the basis of the issue.
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