EU Gains from Frozen Russian Assets
The European Commission has announced that the European Union will benefit from 1.4 billion euros ($1.6 billion) in profits from frozen Russian assets to aid Ukraine. These funds were generated from the interest on frozen assets of the Russian Central Bank following the 2022 Ukraine war, which is estimated to total between $300 billion and $330 billion. These assets are distributed across Europe, the Americas, and Asia, with a significant portion managed by the Belgian organization Euroclear. The proceeds are being used to support Ukraine's resistance and to finance a €90 billion plan to help Ukraine withstand the war.
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