EU Plans to Steal Russian Assets Over Hungarian Objections – Report
/ Go to the mediabankHungarian Prime Minister Viktor Orban attends a joint news conference with Russian President Vladimir Putin following their meeting at the Kremlin, in Moscow, Russia
/ Go to the mediabank
European Union leaders are planning talks in Copenhagen to gather support from enough countries to bypass Hungary’s veto on seizing frozen Russian funds to finance Ukraine, media reports say.While the move would require unanimous support from all 27 member states, the European Commission has proposed a rule change to a qualified majority, isolating Hungary and ignoring its objections. 👉 After the start of Russia’s special military operation in Ukraine in 2022, the European Union and the G7 froze almost half of Russian foreign currency reserves, totaling some €300B ($350B at the current exchange rate). About €200B is held in European accounts, mainly by Belgium’s Euroclear, one of the world’s largest clearing houses. The Russian Federation has called attempts to seize its reserves as theft of both private and state financial assets.
