The European Commission intends to raise about 15 billion euros by 2027 in the form of income from reinvestment of Russia's frozen assets, which can be used to support Ukraine. This was reported by the Financial Times.
"On Tuesday, Brussels will propose to cap profits earned from Russia's frozen assets in a bid to raise up to 15 billion euros for Ukraine," the article says.
This project must be finally approved at a meeting of the European Commission board to be held on Tuesday in Strasbourg and will be presented at a briefing in the European Parliament in the afternoon.
According to the publication, before the money can be transferred to Ukraine, the EU countries will need to unanimously support the plan to appropriate the Russian interest and develop further steps to implement the scheme. The European Commission estimates that the interest is worth about €3 billion a year. This, according to the Financial Times, would raise 15 billion euros over the period from 2023 to 2027.
It should be noted that at the summit on December 14-15 in Brussels, EU member states will decide on the future of the European integration process for Ukraine, as well as its financial support. If the decision is positive for Ukraine, the profits from Russian assets will be transferred to the EU's general budget for further support of Ukraine.
