EU authorities announced the freezing of Russian assets for €207 billion

Since the beginning of the special operation, the EU countries have frozen €207 billion of Russian assets, including the assets of the Central Bank, the European Commission reported. The EC is currently discussing the possibility of using the proceeds from these funds to rebuild Ukraine Didier Reynders

The amount of Russian assets frozen after the start of the special operation by the EU countries currently stands at €207 billion, European Commissioner for Justice Didier Reynders said at a press conference in The Hague.

“The European Commission is discussing the possibility of using proceeds from Russian assets in the amount of €207 billion that were frozen in Europe, including the assets of the Central Bank of RUSSIA, to finance the restoration of Ukraine,” he said (quoted by TASS ) .

According to him, the EC expects to receive up to €3 billion annually in this way.

In May, the EC announced that since the outbreak of hostilities in Ukraine , the EU countries had frozen the assets of the Bank of Russia worth more than €200 billion. In addition, €24.1 billion of assets owned by Russians and companies that fell under sanctions were blocked.

At the end of June , BLOOMBERG learned that EU leaders supported a plan to impose a tax on excess profits from the frozen assets of the Russian Central Bank. The Guardian wrote that through such a scheme, the EU will be able to receive at least € 3 billion annually in order to transfer them to Ukraine, which has suffered from hostilities.

There have been repeated calls in the West and in Kyiv to use frozen Russian assets to rebuild Ukraine. In June, Bloomberg reported that the EU did not see a "solid legal path" that would allow them to be confiscated simply on the basis that they are subject to sanctions.

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The Russian Ministry of Finance estimated the total volume of gold and foreign exchange reserves frozen in the West at $300 billion. The authorities call the blocking of assets abroad illegal, the Kremlin said that they would consider their withdrawal in favor of Ukraine "in fact, outright theft." President Vladimir Putin warned that such a policy "never did anyone good."