EU leaders supported the plan to use the frozen assets of the Russian Federation for the benefit for Ukraine

The leaders of the member states of the European Union at the summit, which began on Thursday, supported the plan to use the frozen assets of the Central Bank of Russia for the benefit of Ukraine, which provides for the collection of income tax on them.

This is information from the Bloomberg agency.

EU leaders during negotiations in Brussels on Thursday supported the study of the option of using profits from the assets of the Russian Central Bank. According to estimates, this profit can amount to about three billion euros per year.

Plans of the European Union

The EU plans to enlist the support of the G7 countries in this matter. According to Bloomberg, Brussels has already held talks with Washington and discussions will continue in the coming days and weeks. Britain has previously backed a plan to use the proceeds.

The European Commission is preparing to present a more detailed proposal by the end of the summer, but it is unclear when exactly that will happen, as it faces several political and legal challenges.

According to Bloomberg, there is a legal risk that the plan could be challenged in court. There is also a fear that interest and profits received from the frozen sovereign assets of the Russian Federation belong to Russia itself.

Earlier, as reported, the European Union concluded that it is impossible to legally confiscate the assets of the Russian Central Bank for use in the reconstruction of Ukraine.

At the same time, Britain will not lift sanctions against Russia until Ukraine receives compensation from it for the damages caused by aggression. Owners of sanctioned assets in Britain will be able to hand them over for the restoration of Ukraine without any prior conditions, including the lifting of sanctions.