https://sputniknews.in/20250718/europe-lacks-will-to-seize-russian-assets-fears-backlash--ukrainian-official-9468999.html
Europe Lacks Will to Seize Russian Assets, Fears Backlash — Ukrainian Official
Europe Lacks Will to Seize Russian Assets, Fears Backlash — Ukrainian Official
Sputnik India
MOSCOW (Sputnik) - Belgium, France, Germany and Italy are the main opponents of the confiscation of frozen Russian assets, the deputy head of the office of the... 18.07.2025, Sputnik India
2025-07-18T18:16+0530
2025-07-18T18:16+0530
2025-07-18T18:16+0530
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russia
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european union (eu)
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sergey lavrov
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After the start of Russia's special military operation in Ukraine, the European Union and G7 countries froze almost half of Russia's foreign exchange reserves, totaling nearly 300 billion euros ($350 billion). More than 200 billion euros are in the EU, mainly in the accounts of Euroclear, the world's largest international central securities depository.She added that the funds that are in the EU would not be enough to restore and modernize Ukraine.Former Ukrainian Prime Minister and the current Minister of Defense Denys Shmyhal said earlier in July that $1 trillion would be needed to restore and modernize the country in the next 14 years and that Kiev expects to receive this money from the confiscation of frozen Russian assets and European investments.The Russian Foreign Ministry has repeatedly condemned the freezing of Russia's central bank money in Europe as theft. Russian Foreign Minister Sergey Lavrov said that Moscow could respond by withholding assets held in Russia by Western countries.
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Europe Lacks Will to Seize Russian Assets, Fears Backlash — Ukrainian Official
MOSCOW (Sputnik) - Belgium, France, Germany and Italy are the main opponents of the confiscation of frozen Russian assets, the deputy head of the office of the president of Ukraine, Iryna Mudra, said on Friday.
After the start of Russia's special military operation in Ukraine, the European Union and G7 countries froze almost half of Russia's foreign exchange reserves, totaling nearly 300 billion euros ($350 billion). More than 200 billion euros are in the EU, mainly in the accounts of Euroclear, the world's largest international central securities depository.
"The main opponents of asset confiscation in Europe are Belgium, because it keeps [funds] in Euroclear, France, Italy and Germany. They fear that the assets of their companies will be confiscated from Russia … Nowadays, leaders have no political will to confiscate these assets. There are concerns among large countries that this could create a precedent and so on, that this could be done to them too," Mudra told the Rada broadcaster.
She added that the funds that are in the EU would not be enough to restore and modernize Ukraine.
"Today, the amount of losses, which was estimated by the World Bank and the European Commission, is over $586 billion. This is half of what we need … I do not rule out that the sum will reach $1 trillion," Mudra said.
Former Ukrainian Prime Minister and the current Minister of Defense Denys Shmyhal said earlier in July that $1 trillion would be needed to restore and modernize the country in the next 14 years and that Kiev expects to receive this money from the confiscation of frozen Russian assets and European investments.
The Russian Foreign Ministry has repeatedly condemned the freezing of Russia's central bank money in Europe as theft. Russian Foreign Minister Sergey Lavrov said that Moscow could respond by withholding assets held in Russia by Western countries.
