Greece estimates EU will receive €50-60bn from Russian assets to support Ukraine

Spyridon Lambridis, Special Envoy of the Ministry of Foreign Affairs of the Hellenic Republic to Ukraine, has expressed confidence that the EU will agree to the scheme to use the profits from Russian sovereign assets on its territory and direct them to help Kyiv.

Source: Spyridon Lambridis an interview with AFP, European Pravda reports

Details: Lambridis says that the EU is approaching a consensus on a more subtle approach to the seizure of profits from Russian assets, both public and private, in order to create a fund to support Ukraine.

"I think this is a matter of months," he said.

The Greek representative estimates that the EU mechanism will provide between 50 and 60 billion euros. "This is a small thing, but it is at least a step towards showing them (Russians – ed.): look what you've done," Lambridis added.

The diplomat spoke out against the confiscation of Russian assets, as it contradicts international law and will in turn lead to the confiscation of Western assets in Russia.

"Of course, the Russians will react to this (use of profits – ed.). But even if they sue us in international courts, I think we will win," he said.

Read also: Challenges of confiscation: what will help Ukraine to achieve the transfer of Russian assets.

Background:

On 12 February, the Council of the European Union adopted a decision that brings closer the creation of a mechanism for using the excess profits of frozen Russian assets in the EU for the benefit of Ukraine.

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