Vladimir Putin, President of Russia.
The Hague (Netherlands): Due to a chess move by the European Union (EU), Russian money is now going to be the death of Russia in the war against Ukraine. European countries have made such a move that weapons and ammunition bought from the interest amount earned from Russian money will attack Moscow. In fact, Europe including America had seized Russian assets in their countries, holding them responsible for the attack on Ukraine. It has now been announced that the interest amount received on this will be used to help Ukraine.
Europe announced on Friday that it has raised 1.5 billion euros (US$1.6 billion) to help Ukraine. This money is the first installment of interest earned from the profits of Russia’s ‘frozen’ amount. Let us tell you that in May, the 27 member countries of the European Union have agreed to spend the interest earned from 210 billion euros (US$225 billion) included in the assets of the Russian Central Bank on providing military assistance to war-torn Ukraine and on reconstruction efforts there.
Europe has imposed sanctions on Russia
Europe’s money was frozen as part of sanctions imposed on Russia after it launched a full-fledged war against Ukraine. Most of this money is in Belgium. Brussels estimates that interest on these assets can generate about three billion euros per year. European Commission President Ursula von der Leyen said in a statement, “The European Union stands with Ukraine. Today we are giving Ukraine 1.5 billion euros obtained from frozen Russian assets to protect and rebuild Ukraine. There cannot be a better use of Kremlin’s money.” This step has been taken a few days after Russia announced the recapture of two villages in eastern Ukraine. (AP)
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