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Steps on revenues from Russian assets to be taken soon — EC President

On February 12, the EU Council approved a decision and a resolution providing for a legal basis to use revenues from frozen Russian assets to support Ukraine in the future

BERLIN, February 19. /TASS/. Steps to use profits from frozen Russian assets in favor of Ukraine will be taken in the near time, President of the European Commission Ursula von der Leyen said.

"The given legal steps have been taken and will be implemented in these days," she said at a press conference in Berlin, without giving details.

On February 12, the EU Council approved a decision and a resolution providing for a legal basis to use revenues from frozen Russian assets to support Ukraine in the future. The Council decided in particular that Central Securities Depositaries holding more than €1 million of Bank of Russia’s assets should account extraordinary cash balances accumulating due to EU restrictive measures separately and should also keep corresponding revenues separate. In addition, they were prohibited from disposing of the ensuing net profits.

The decision paved the way to decide on a possible establishment of a financial contribution to the EU budget raised on these net profits to support Ukraine and its recovery and reconstruction at a later stage, the EU Council added.

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