The European Union approved transfer of profits from frozen Russian assets to Ukraine. RBK reported, citing the Czech Foreign Minister Jan Lipavsky.
According to the media outlet, this year alone this amount could reach up to 74 billion crowns (about €3 billion). Of these, 90 percent will go to military support for Ukraine.
«At year-end 2023, the European depository Euroclear, where most of the frozen Russian assets are stored, reported income of 4.4 billion, and since the beginning of 2024 it has earned another €1.6 billion. The Financial Times estimates that total profits could reach €20 billion by 2027. In total, after the outbreak of hostilities in Ukraine, Western countries froze about €260 billion of assets of the Central Bank of Russia in the form of cash and securities. The Russian Ministry of Finance in 2022 estimated the volume of frozen assets at approximately $300 billion,» RBK reports.
The Russian authorities have repeatedly stated that such actions by Western countries are theft.
