The European Commission is considering the possibility of receiving income in the amount of 2.6% from investments in frozen assets of the Central Bank of the Russian Federation.
This is reported by Politico.
"The EU is exploring legal options for using Russian foreign exchange reserves frozen in the bloc, including investing them for profits that could be used to finance the reconstruction of Ukraine. Such an unprecedented attempt raises legal, political and economic issues, and EU countries last month set up a working group to studying what can be done," the article says.
It is noted that there is a consensus among EU member states that it is necessary to examine very carefully what can be done under the guidelines with these assets.
Politico writes that the European Commission's document, which will be discussed at a meeting of national experts on Tuesday, clarifies the legal basis for investing in Russian assets, as well as the associated risks and estimates of possible investment returns. The European Commission wants to take into account the invasion of the Russian Federation into Ukraine, which is tantamount to an exceptional and gross violation of international and humanitarian law. With this, they want to substantiate their evidence in favor of investing the assets of the Russian Central Bank and obtaining profit for the benefit of Ukraine in accordance with international law.
The Commission believes that investing these billions in high-rated liquid assets with relatively short maturities could yield significant annual returns averaging around 2.6%. About two-thirds of the 300 billion dollars of frozen reserves of the Central Bank of the Russian Federation are located in the G7 countries, the European Union and Australia.
We will remind you that following the results of the summit of EU leaders, the European Council supported the creation of a mechanism for registering the damage caused by Russia to Ukraine.