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☆ The EU wants to skim $3 billion a year in interest from frozen Russian assets and give it to Ukraine
  + stars: | 2023-06-30 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
The EU is considering using the interest generated from frozen Russian assets to help rebuild Ukraine, per CNN. The bloc has been considering seizing frozen Russian assets for this purpose since last year. "It's the best way of using these assets in accordance with EU and international law," Anders Ahnlid, the director general Sweden's national trade board, a government agency, and the head of the EU working group looking into frozen Russian assets, told CNN. This means it would take at least 124 years to help rebuild Ukraine if the interest proceeds were the only funding source. Other options that the EU has considered over the last year include seizing Russian assets and reinvesting the proceeds, or taxing their profits.
Persons: —, Anders Ahnlid, Tiffany Comprés, Comprés, Janet Yellen Organizations: CNN, Service, European, World Bank, EU, FisherBroyles, United Nations, Criminal, Kremlin, European Commission Locations: Ukraine, European Union, United States
☆ Rebuilding Ukraine after the war could cost $411 billion. The EU thinks an estimated $3 billion interest generated from frozen Russian assets every year could help.
  + stars: | 2023-06-30 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
The EU is considering using the interest generated from frozen Russian assets to help rebuild Ukraine, per CNN. The bloc has been considering seizing frozen Russian assets for this purpose since last year. The assets would likely generate about 3 billion euros, or $3.3 billion, each year, he told the network. This means it would take at least 124 years to help rebuild Ukraine if the interest proceeds were the only funding source. Other options that the EU has considered over the last year include seizing Russian assets and reinvesting the proceeds, or taxing their profits.
Persons: —, Anders Ahnlid, Tiffany Comprés, Comprés, Janet Yellen Organizations: CNN, Service, European, World Bank, EU, FisherBroyles, United Nations, Criminal, Kremlin, European Commission Locations: Ukraine, European Union, United States
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