The European Union has agreed to set aside billions of euros of profits from frozen Russian Central Bank assets, paving the way to allow the profits to be transferred to Ukraine, the Financial Times reported on Jan. 29, citing a draft text.

The European Union has agreed to set aside billions of euros of profits from frozen Russian Central Bank assets, paving the way to allow the profits to be transferred to Ukraine, the Financial Times reported on Jan. 29, citing a draft text.

The EU proposed a plan on Dec. 12 to seize about 15 billion euros ($16.2 billion) in projected profits generated by frozen assets of Russia’s Central Bank and transfer them to Ukraine.

The European Commission estimated that the plan would generate about 3 billion euros ($3.2 billion) per year, or 15 billion from 2023-2027.

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  • The Snark Urge@lemmy.worldEnglish
    132·
    9 months ago

    I wish this was done a lot sooner. I worry that Russia will start trying to undermine NATO with little tests of article 5, sooner or later, if they have the resources to spare.

    • theotherone@kbin.social
      52·
      9 months ago

      Russia doesn’t have the resources to prosecute the campaign it has already started. If Putin decides to find out what happens when you pick on someone your own size, that would just hasten his departure.

      • The Snark Urge@lemmy.worldEnglish
        4·
        9 months ago

        Not necessarily, if they pick their battles carefully around places the west couldn’t give a shit about. Not even necessarily armed invasions maybe, to begin. The goal isn’t to fight all of NATO, the goal will be to make the bigger members balk at being forced to mobilize over small stuff and undermine the perceived integrity of article 5.

        • Pup Biru@aussie.zoneEnglish
          32·
          9 months ago

          could definitely backfire… who knows if NATO want an excuse to show russia that no matter how small they’re not fucking around

          • The Snark Urge@lemmy.worldEnglish
            4·
            9 months ago

            To my point, I think that’s exactly why we’re suddenly seeing a bunch of rhetoric in the news describing our young people as “the pre war generation” and talk of ramping up NATO funding and activity.

            Edit to add: Weird that people would downvote you, we’re just talking here. My preferred outcome is that NATO posturing scares them off, and the extra funding contributes to more Ukrainian victories.