Kallas doubted that anything would remain of Russia's frozen assets.

RUSSIA , although it has legal rights to the assets "seized" by the West, will not receive them until the funds are used to rebuild Ukraine, said the new HEAD of EU diplomacy, Kaja Kallas, Politico reports.

“But I doubt that anything [of these assets] will remain,” she added, without specifying where the money might go .

Following the start of the special operation in Ukraine, Western countries froze the Russian Central Bank's assets in the form of cash and securities worth approximately €260 billion, more than two-thirds of which are held in Belgium's Euroclear. In 2022, the Russian Ministry of Finance estimated the frozen assets at approximately $300 billion.

By the end of 2023, Euroclear received €4.4 billion in revenue from these assets , equivalent to approximately 80% of all interest income for that period. In the first nine months of this year, the depository earned an additional €5.15 billion from Russian assets.

As of the end of September, Euroclear held €176 billion in frozen Russian assets.

In the summer, G7 leaders agreed to provide Ukraine with a $50 billion loan , to be repaid with proceeds from frozen Russian assets. In October, the EU announced that Kyiv would receive a loan of up to €35 billion, financed by profits from these assets, over 45 years. US President Joe Biden also decided to provide Ukraine with a $20 billion loan, to be repaid with proceeds from Russian assets.

In Moscow, any actions with its frozen assets were considered theft. In May, President Vladimir Putin authorized Russian courts to use American movable and immovable property (both belonging to individuals and companies) in Russia to compensate for damages from the seizure of Russian assets in the United States. This includes securities and shares in the authorized capital of Russian companies.

The head of the Russian Ministry of Finance AntonSiluanov noted that the volume of assets mutually blocked by Russia and foreign states is comparable. "Therefore, if Western countries decide on restrictions or seizures, we will respond in kind. Once again, we have something to respond with," he emphasized.

ReadPIONERPRODUKT .by inTELEGRAM .