Mon. Feb 26th, 2024
US supports EU’s new measures to use frozen Russian assets to support Kyiv

The US Department of State has expressed its satisfaction after the European Union adopted a decision and regulation allowing the use of profits from frozen Russian assets to support Ukraine. Matthew Miller, the spokesman for the US Department of State, stated during a press conference that the US is encouraged by any action taken by the EU to use Russian assets for the benefit of Ukrainians.

The EU has adopted a decision and regulation clarifying the obligations of Central Securities Depositories (CSD) that hold assets and reserves of the Russian Central Bank, which are immobilized due to restrictive measures. This represents ongoing efforts to hold Russia accountable and provide support to Ukraine.

Since the invasion of Ukraine, international efforts have been successful in blocking around €260 billion in Russian Central Bank assets, two-thirds of which are immobilized in the EU. An additional 19 billion euros have been frozen from individuals and companies included on the sanctions list due to their support for the war.

Miller assured that the US will continue talking with allies and partners to use all possible channels to ensure that Russia pays for its aggression against Ukraine. He mentioned that active discussions are ongoing with allies and partners, including G7, on additional measures that can be taken within respective systems and international law to make Russia cease its aggression against Ukraine.

In summary, it’s a step towards holding Russia accountable for its actions in Ukraine while providing support to those affected by it. The international community’s continued efforts show solidarity with Ukraine in this time of need.

By Editor

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