European Commission Explores Funding Options for Ukraine Amid Russian Asset Debate

The European Commission has announced that it is exploring multiple funding options for Ukraine over the next two years. However, it has not clarified whether the Belgian platform "Euroclear" is part of these discussions.

The Commission's press office stated: "As mentioned by Commission President Ursula von der Leyen before the European Parliament, we are currently working closely with Belgium and all member states to discuss how to fulfill this funding commitment to Ukraine, and three options are under consideration."

The options outlined by von der Leyen include:

1. A loan secured by Russian assets.

2. A comprehensive European loan backed by the European Union's budget.

3. Direct commitments from individual member countries to secure the funding.

However, the Commission did not address questions regarding its plans to utilize the "Euroclear" platform in relation to Russian sovereign funds.

Valérie Urban, president of Euroclear, stated in an interview with "Le Monde" that the institution is considering legal action against the European Union if Russian investor funds are seized. She emphasized that the seizure of frozen assets from the Bank of Russia would violate international law, and Moscow could challenge such a decision in court.

It is important to note that G7 countries and the European Union have frozen approximately $300 billion in Russian assets since the onset of military operations, with around $210 billion held in the Euroclear institution.

Moscow has warned against any infringement on frozen Russian assets within the European Union, asserting that such actions would breach international law and that it would respond similarly to any measures taken by Brussels.