EU proposes plan to seize frozen Russian assets
Kathmandu, November 30. The European Commission has put forward a plan to seize frozen Russian assets in order to make up for the damage the war has done to Ukraine.
According to a statement from European Commission President Ursula von der Leyen, the funds would be transferred to Ukraine “to compensate for the damages caused to the country”, which are already estimated to be worth about 600 billion euros (621 billion U.S. dollars).
She said,”We have blocked 300 billion euros of the Russian Central Bank reserves and we have frozen 19 billion euros of Russian oligarchs’ money.”
Further, the European Union(EU) and its partners plan to invest and manage funds until it is routed to Ukraine.
Moreover, she also said EU was proposing for the establishment of a specialized court, backed by the United Nations to punish Russia for their wrongdoings against Ukraine.
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