{"id":1479997,"date":"2024-07-28T11:00:00","date_gmt":"2024-07-28T15:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1479997"},"modified":"2024-07-28T11:00:00","modified_gmt":"2024-07-28T15:00:00","slug":"eu-leverages-frozen-russian-assets-for-e1-5-billion-aid-package-to-ukraine","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/eu-leverages-frozen-russian-assets-for-e1-5-billion-aid-package-to-ukraine\/1479997\/","title":{"rendered":"EU Leverages Frozen Russian Assets For \u20ac1.5 Billion Aid Package To Ukraine"},"content":{"rendered":"

EU Leverages Frozen Russian Assets For \u20ac1.5 Billion Aid Package To Ukraine<\/span><\/p>\n

\n

Via RFE\/RL Staff,<\/em><\/a><\/p>\n

The EU has transferred \u20ac1.5 billion to Ukraine, using proceeds from frozen Russian assets.<\/em><\/p>\n

This move is part of a larger Western effort to support Ukraine financially and pressure Russia.<\/em><\/p>\n

Russia has vowed to respond to the EU’s actions, though specifics are not yet clear.<\/em><\/p>\n

European Commission President Ursula von der Leyen has announced that the European Union will send Ukraine 1.5 billion euros ($1.63 billion) that represent revenues from Russian assets frozen by the 27-member bloc.<\/p>\n

“Today we transfer 1.5 billion in proceeds from immobilized Russian assets to the defense and reconstruction of Ukraine,” von der Leyen\u00a0wrote<\/strong><\/a>\u00a0on X. <\/em><\/p>\n

“There is no better symbol or use for the Kremlin’s money than to make Ukraine and all of Europe a safer place to live.”<\/em><\/strong><\/p>\n

Following Moscow’s unprovoked invasion of Ukraine in February 2022, the West froze some 276 billion euros ($300 billion) in sovereign Russian wealth funds and the Group of Seven (G7) industrialized countries last month decided to service a $50 billion loan for Ukraine with proceeds generated by Russia’s frozen assets, prompting Moscow to threaten legal action.<\/p>\n

<\/a><\/p>\n

On July 25, EU Economic Commissioner Paolo Gentiloni said the G7 was likely to have a framework deal on the loan for Ukraine’s defense and reconstruction by October,\u00a0according<\/strong><\/a>\u00a0to Euractiv.com.<\/p>\n

Ukrainian Prime Minister Denys Shmyhal\u00a0voiced<\/strong><\/a>\u00a0gratitude for the EU move in a message on X.<\/p>\n

“Thank you, @vonderleyen, and the EU for your steadfast support and this significant contribution to Ukraine’s defense and reconstruction. Together, we are turning adversity into strength and building a safer, more resilient Europe,”<\/strong><\/em> he said.<\/p>\n

Most of the frozen Russian sovereign funds — some 210 billion euros ($228 billion) — are held in Europe, while about $10 billion is in the United States, Euractiv.com estimates.<\/p>\n

Some $30 billion are in Japan, and $10 billion in Britain.<\/p>\n

In reaction to von der Leyen’s announcement, Kremlin spokesman Dmitry Peskov said Russia will not leave the EU’s move unanswered but said Moscow’s response had to be carefully planned.<\/p>\n

“This is certainly grounds for well-thought-out actions in response to such unlawful decisions being implemented by the European Union. Such actions will certainly follow,”<\/strong><\/em> Peskov told journalists on July 26.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSun, 07\/28\/2024 – 07:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/geopolitical\/eu-leverages-frozen-russian-assets-eu15-billion-aid-package-ukraine<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

EU Leverages Frozen Russian Assets For \u20ac1.5 Billion Aid Package To Ukraine Via RFE\/RL Staff, The EU has transferred \u20ac1.5 billion to Ukraine, using proceeds…<\/p>\n","protected":false},"author":0,"featured_media":1479998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1479997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1479997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1479997"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1479997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1479998"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1479997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1479997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1479997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}