Russia cannot retrieve its frozen assets without first making reparations as per the statement of EU's Kallas.
In a significant development, EU foreign ministers are gathered in Copenhagen for a crucial meeting to discuss the future of Russia's frozen assets within the EU. The assets, amounting to approximately 210 billion euros ($245.85 billion), are currently frozen due to Russia's actions in Ukraine.
France, Germany, and Belgium, major EU powers and the holders of most of the frozen assets, have expressed concerns about the legality of outright confiscation. However, Poland and the Baltic states have called for the confiscation of the assets to support Ukraine.
Kaja Kallas, the European Union's foreign policy chief, has emphasized that the frozen assets should not be returned if there is a ceasefire or peace deal without Russia paying reparations for the invasion of Ukraine. She also stated that Russia's frozen assets will not be returned unless reparations are paid.
The discussion in Copenhagen is not only about the potential return of the assets but also about the potential use of funds from these assets. Diplomats suggest the discussion is now shifting towards how funds from the frozen assets might be utilized once the war in Ukraine concludes.
One possibility under consideration is using the funds from the frozen assets without Russia paying reparations. The EU is also considering using future profits from these assets to fund support for Ukraine. However, France and Germany have raised concerns about this approach, expressing legal concerns about outright confiscation of the frozen Russian assets.
The main actors involved in negotiations over the use of frozen Russian assets after the Ukraine war are primarily the Ukrainian government, the United States government, and key political factions in countries like Germany (Union and SPD parties), who have expressed openness to using these assets to support Ukraine. Russia is also involved, represented by its officials such as Foreign Minister Sergey Lavrov, but with firm maximalist demands complicating peace talks.
As the meeting in Copenhagen continues, the EU foreign ministers are weighing the legal, ethical, and political implications of their decisions regarding Russia's frozen assets. The outcome of these discussions could have significant implications for the future of Ukraine and the EU's relationship with Russia. Kaja Kallas, the EU foreign policy chief, has yet to comment on the potential use of funds from the frozen assets.
