Politico: EU retains €5 billion Russian frozen asset profits, blocks transfer to Ukraine
The EU decides to keep €5 billion in profits from frozen Russian assets in 2022-2023 instead of transferring it to Ukraine, as a buffer allowing payment for ongoing and potential Russian lawsuits, per Politico.
The European Union has decided to withhold €5 billion in profits generated in 2022 and 2023 from frozen Russian assets rather than transfer the funds to Ukraine, Politico reports. The substantial sum represents earnings from investing Russia’s central bank reserves, and other state assets immobilized across Europe through sanctions over Moscow’s invasion of Ukraine that started in February 2022.
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