The bloc is likely to stick to various “indirect mechanisms” to tap into frozen Russian assets, Polish PM Donald Tusk says
The EU is “light years away” from using frozen Russian assets to militarily prop up Ukraine or “rebuild” the country, Polish Prime Minister Donald Tusk has admitted.
Finding themselves bereft of unlimited US military backing, EU leaders have been seeking to find a legal mechanism to use Russia’s sovereign funds to continue arming Ukraine. The idea of tapping into the funds, most likely by using them as collateral for loans to Ukraine, has been strongly objected to within the bloc and by legal scholars.
The EU is likely to use “various indirect mechanisms” to tap into the assets rather than confiscate them outright, Tusk said on Monday. The PM made the remarks while commenting on the EU’s recent move to tighten its grip on the frozen Russian assets and prevent their premature release.
“From that point to the potential use of these funds for rebuilding Ukraine – let alone for military support for Ukraine – we are still light years away,” Tusk told reporters. “However, there are various indirect mechanisms, for example, the possibility of using these funds as a financial lever, that is, as loan guarantees,” he added.
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