The European Union will not confiscate Russia’s frozen assets. Several EU countries have opposed the move. These countries mention legal problems and dangers for the financial stability. “According to EU legislation, Russia’s assets must remain immobilized until Russia ends its aggressive war against Ukraine and compensates it for the damages caused by this war,” the text adopted by EU leaders states but they are not willing to confiscate Russian assets right away. The result is that Russian state assets can be blocked for a very long time. Which is equal to confiscation, in particular, if any proceeds, interests earned etc. continue to be confiscated. Several EU countries oppose the confiscation of over €200 billion in Russian state assets, as DW reports, because of: 1. EU legislation, 2. The risk of setting a precedent that could harm Europe’s competitiveness in financial services, 3. The need to support Ukraine using interest generated from these funds, and 4. The idea that these assets serve as a bargaining chip in peace negotiations and leverage over Russia. Yes, the EU will keep Russia state assets for a very long time.
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