EU Anticipates Receiving 2.6% of Revenue from Frozen Russian Assets Placement

The Politico newspaper reported that the European Commission is considering earning a 2.6% return on the West’s investment in frozen CBR assets.

According to the publication, the European Union believes that about two-thirds of the frozen reserves of the Central Bank of the Russian Federation, amounting to $ 300 billion, are in the G7 countries, the European Union and Australia.

The newspaper said that 191 billion euros of these funds are in Belgium, and 21 billion euros – in another EU country, which was not named.

According to the European Commission, investing these billions in “liquid assets” with high ratings and relatively short maturities could provide “significant annual returns, averaging around 2.6%.”

The newspaper believes that the possible acquisition of these assets in the European Union could raise legal, political and economic questions regarding the legality of such measures, in connection with which a working group was formed last month to discuss the implementation of this problem.

“There is a consensus among EU member states that it is essential to scrutinize this operation in accordance with the instructions, including its compliance with EU standards and international law,” Anders Unlid, head of the task force on the protection of the conditions for the use of frozen Russian assets.

The newspaper notes that the issue of using the frozen assets will be discussed at a meeting of the expert group on March 28.

Source: TASS

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