EU may use Russian money to rebuild Ukraine: the essentials of the 719th day of war

EU may use Russian money to rebuild Ukraine: the essentials of the 719th day of war

The European Union may use profits from the assets and reserves of the Russian central bank to pay for the future reconstruction of post-war Ukraine – a war that marks its 719th day this Monday.

The decision was adopted by the EU Council and is in line with the position of the G7 (USA, Japan, Germany, United Kingdom, France, Italy and Canada). The profits from the Russian assets in question are frozen by the Member States.

The objective is to ensure the “possible creation of a financial contribution to the EU budget from these net profits to support Ukraine and its recovery and reconstruction at a later stage”, indicates in a statement the structure that brings together European countries.

The initiative comes after the EU decided, as one of the sanctions imposed on Russia, to prohibit any transactions related to the management of reserves and assets of the Russian central bank, with the remaining relevant assets held by financial institutions in member states remaining frozen.

Other news that marked the day

⇒ France revealed a new case of digital interference from Russia: a “structured and coordinated” network of websites to spread propaganda in Europe and the USA, as the war in Ukraine completes almost two years. Named “Portal Kombat”, this network of 193 websites was discovered after four months of work by Viginum, the French organization combating foreign digital interference.

⇒ The Ukrainian Government condemned the “deliberate destruction” by Polish protesters of cereals from their country destined for the EU. On Sunday, a protest led Polish farmers to dump Ukrainian cereals on the road, unhappy with what they consider to be unfair competition, blocking the border between the two countries.

⇒ The Kremlin and Elon Musk formally denied Kiev’s accusations that Russian forces are using the Starlink satellite internet access service, owned by that multimillionaire businessman. “This is a system that is not certified in our country, so it cannot be officially supplied here and is not officially supplied,” said Russian Presidency spokesman Dmitri Peskov.

⇒ Former Russian deputy Boris Nadezhdin, critic of the Kremlin and the invasion of Ukraine, filed two lawsuits in the Supreme Court against the Central Election Commission, which rejected his candidacy for the March presidential election. The electoral commission claimed that thousands of signatures required to register the candidacy were invalid.

⇒ The President of the European Parliament, Roberta Metsola, warned of the “danger” of statements such as those made by former US President Donald Trump, who said on Saturday that he would encourage Russia to attack NATO countries if they did not pay their share . Trump frequently and harshly criticizes allies who do not sufficiently finance the institution, that is, who do not contribute the 2% of GDP to the Alliance’s budget.

⇒ Sweden’s ambassador to NATO, Axel Wernhoff, also recognized as “problematic” the implementation of the former North American President’s “rhetoric” about encouraging Russia to attack financially non-compliant alliance countries. “We all know that his rhetoric can be quite dramatic or drastic. We need to be cautious at the very least,” he said.

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