Europe enrages Russia: Kremlin faces stern warnings - EU confiscates Putin's assets
The European Union (EU) Commission has proposed using a portion of the approximately 170 billion euros in frozen Russian assets as reparations for Ukraine. This contentious proposal, currently under discussion among EU finance ministers in Copenhagen, has sparked international debate and controversy.
Valdis Dombrovskis, the EU Commissioner, addressed the issue at a meeting of EU finance ministers in the Danish capital. The discussion forms part of broader talks among EU finance ministers concerning the utilisation of these assets for Ukraine's aid. However, the specific names of all finance ministers present were not detailed in the search results.
The Kremlin has responded to the EU's plan with criticism, referring to it as theft. Furthermore, Russia has threatened retaliation against states involved in the EU's plan, announcing it will target affected states legally and politically.
The EU Commission's plan involves forwarding interest and parts of the capital from frozen Russian assets to Ukraine as reparations. However, the total amount of interest and capital from frozen Russian assets that the EU Commission plans to forward via reparations credits to Ukraine remains undisclosed.
The EU Commission's proposal is facing legal challenges, and the Commission has not specified the exact legal mechanism it will use to forward reparations credits to Ukraine. The legality of this move is also under contention, with the EU Commission's plan being described as legally contentious.
Despite these challenges, the EU Commission has not disclosed a timeline for the implementation of its plan to forward reparations credits to Ukraine. The international community will be closely watching developments as this complex issue unfolds.
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