EU: Russia’s frozen assets to support Ukraine’s reconstruction

The European Council invites the European Commission to present options for using Russia’s frozen assets for the reconstruction of Ukraine, according to the Conclusions of the Council meeting on Oct. 20 and 21, 2022, in Brussels.

“The European Union is determined to support Ukraine’s relief, rehabilitation and reconstruction, together with international partners and financial institutions. Ahead of the International Expert Conference in Berlin on Oct. 25, 2022, the European Council discussed the governance and financing of these efforts, including reforms. Furthermore, recalling its conclusions of May 30-31, 2022, the European Council invites the Commission to present options in line with EU and international law aimed at using frozen assets to support Ukraine’s reconstruction,” the Conclusions read.

Although the document does not specify whose frozen assets are supposed to be used, the May 30-31 conclusions it refers to are explicit: “The European Council supports further options in line with EU and international law being actively explored, including options aimed at using frozen Russian assets to support Ukraine’s reconstruction.”

Photo: The Washington Times