The head of the ECB urged to agree on a decision on the frozen assets of the Russian Federation

Any actions by the European Union (EU) to use frozen Russian state assets to support Ukraine must strictly comply with international law. This was announced on October 6 by Christine Lagarde, President of the European Central Bank (ECB).

"The EU is looking for a way to finance Ukraine's defense and reconstruction from a portion of frozen Russian state assets worth €210 billion," she was quoted as saying by the Reuters news agency.

It clarifies that since direct confiscation of assets is impossible by law, the bloc plans to invest these funds through coupon—free bonds issued by the European Commission (EC) under guarantees from EU member states. The funds received will then be provided to Ukraine in the form of a "reparation loan."

Lagarde expressed concern that legally questionable steps could undermine confidence in the euro and scare away investors, which would negatively affect financial stability. She assured that the ECB would closely monitor the compliance of the proposed measures with international law and the preservation of financial stability.

The funds frozen in the Belgian Euroclear depository were previously invested in bonds that have expired. Lagarde also noted that any decision must be approved by all parties involved in Russian assets.

Gathered for business: the West cannot come to an agreement on the assets of the Russian Federation

The ECB and a number of countries are skeptical about the "reparation loan"

On October 1, EU leaders unanimously supported the use of frozen Russian assets to provide Ukraine with a loan of 140 billion euros. The EC assured that it had found a "legally justified way" to implement a mechanism in which Kiev would be able to use the funds now.

On October 2, Kremlin spokesman Dmitry Peskov compared the participants in the discussion in Europe about the confiscation of Russian assets to a gang. According to the press secretary, all those involved in these illegal actions will bear legal and other responsibility.

All important news is on the Izvestia channel in the MAX messenger.