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Berlin 'open' to using Russian funds to rebuild Ukraine

2022-05-11T15:37:17.321Z


Germany's finance minister on Wednesday said he was "open" to the idea of ​​using frozen Russian Central Bank capital as part of...


Germany's finance minister said on Wednesday he was "

open

" to the idea of ​​using capital from the Russian Central Bank frozen under Western sanctions to help rebuild Ukraine.

Read alsoA “European Marshall Plan” to rebuild Ukraine

I am open to a discussion at the international level regarding the confiscation of capital from the Russian Central Bank

,” Christian Lindner told a press conference.

He was being questioned about whether to use assets targeted under sanctions against Russia to help rebuild Ukraine.

I can imagine it politically, if that is desired

,” he added.

Using Russian assets to rebuild Ukraine

Regarding the frozen assets of private individuals and companies, the situation is more complicated because expropriations are subject "

to legal standards which we cannot ignore at the political level

", he said.

The President of the European Council Charles Michel spoke out last week for the confiscation of Russian assets frozen in the EU in order to make them "

available

" for the reconstruction of Ukraine.

"

Personally, I am absolutely convinced that it is extremely important not only to freeze the assets, but also to make possible their confiscation, in order to make them available for the country which is rebuilding itself

", he had declared to the agency of Ukrainian press Interfax.

Read also War in Ukraine: are European sanctions “enriching Russia”?

US President Joe Biden for his part asked Congress at the end of April to give him the possibility of confiscating the assets of Russian oligarchs stranded in the United States to use them for the benefit of Ukraine.

Canada is on the same line.

An opinion has been sought from the European Council's legal service on the feasibility of such a measure, as "

there are 27 legal systems in the EU and in many EU member states a decision by a court is necessary

" .

, had however pointed out Charles Michel.

"

It's a difficult and long process

," he acknowledged.

Source: lefigaro

All business articles on 2022-05-11

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