EU Council takes step to use russian assets for Ukraine

The Council of the European Union has adopted a decision that will allow the income from the frozen assets of the Central Bank of russia (CBR) to be used in the future to help Ukraine.

According to the new decision, central securities depositories (CSDs) that hold more than €1 million of CBR assets must separately account for income from the frozen assets of the russian federation. However, they cannot use this income.

In the future, the Council may decide to create a financial contribution to the EU budget from these funds. This contribution will be used to support Ukraine, its recovery and reconstruction through the Fund for Ukraine.

Source: press service of the EU Council