On Monday, the Council of the European Union adopted a decision that will allow in the future to use income from the frozen assets of the Central Bank of Russia to help Ukraine. This was reported by the press service of the Council of the European Union.
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What is known
According to the new decision, central securities depositories (CSDs) holding more than 1 million euros of CBR assets must separately account for income from frozen assets of the Russian Federation. However, they cannot use these incomes.
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 Ukraine Fund.
Read: G7 countries move closer to confiscating Russian assets for Ukraine – Financial Times
