Lithuania proposes two options for using frozen russian assets

Lithuanian Foreign Minister Kęstutis Budrys said that the EU remains skeptical about proposals to use frozen russian assets to support Ukraine.

“There is still a lot of skepticism in the EU on this issue, even if you can convince them of the need and why it should be done,” Budrys said.

Last week, during a meeting of foreign ministers in Copenhagen, he presented Lithuania's proposal to transfer frozen funds from the Central Bank of russia in the form of a loan to Ukraine or to transfer them to a special fund managed by the EU.

Budris acknowledged his colleagues' concerns about the possible legal and economic consequences, but stressed that russia's full-scale invasion is a gross violation of international law and requires a response.

"We must share the burden of risk. Let's outline various measures and move in this direction, because we will need it," Budris added.

In a written proposal to EU countries, Lithuania argued that the use of russia's frozen assets could be considered a legitimate countermeasure to force Moscow to stop its aggression or pay reparations. International law stipulates that such countermeasures must be temporary.

Lithuania proposed two options: to grant Ukraine a loan secured by frozen assets, or to transfer these funds to a special EU fund or a newly created body that could manage them more effectively to generate higher returns.

Source: LRT