EU Proposes Using Profits from Seized Russian Assets to Aid Ukraine

The European Union is inching closer to a historic decision to use windfall profits accumulated by frozen assets in the bloc belonging to the Russian Central Bank and sending them to Ukraine. The assets were frozen shortly after the full-scale invasion of Ukraine in February 2022 and have remained so since. It is estimated that roughly 260 billion euros ($281 million) in securities and cash belonging to Central Bank of Russia have been frozen, out of which 210 billion euros are in the European Union and the rest in other Group of Seven countries…