European Commission Considers Funding Options for Ukraine Amid Russian Asset Controversy

The European Commission has announced that it is assessing multiple strategies to finance Ukraine in the coming two years. However, it remains unclear whether the Belgian Euroclear platform will be included in these discussions.

According to a statement from the Commission's press office, "As President Ursula von der Leyen noted in her address to the European Parliament, we are collaborating closely with Belgium and all EU member states to fulfill our commitment to support Ukraine, and we are considering three potential options."

The options mentioned by von der Leyen include:

1. A loan backed by Russian assets.
2. A broad European loan supported by the EU budget.
3. Direct financial commitments from individual member states.

Despite inquiries, the Commission did not clarify whether the Euroclear platform would play a role in its plans concerning Russian sovereign funds.

Valérie Urban, head of Euroclear's deposit and financial services, indicated to "Le Monde" that the institution is contemplating legal action against the European Union if Russian investors' funds are confiscated. She asserted that the seizure of frozen assets belonging to the Bank of Russia would violate international law, and Moscow could challenge such actions in court.

It is reported that G7 nations and the European Union have frozen approximately $300 billion in Russian assets since the onset of the military operation, with around $210 billion held within the Euroclear institution.

Russia has cautioned against any interference with its frozen assets in the EU, asserting that such actions would breach international law and that it would respond correspondingly to any measures taken by Brussels.