March 20, 2024

This is how you handle Russian aggression

Via Breitbart, the EU uses some political Jiu-jitsu on Putin:

The European Union is pressing ahead with a plan to use the profits generated from billions of euros of Russian assets frozen in Europe to help provide weapons and other funds for Ukraine, a senior official said Tuesday.

...The 27-nation EU is holding around 200 billion euros ($217 billion) in Russian central bank assets, most of it frozen in Belgium, in retaliation for Moscow´s war against Ukraine. The bloc estimates that the interest on that money could provide around 3 billion euros ($3.3 billion) each year.

“The Russians will not be very happy. The amount of money, 3 billion per year, is not extraordinary, but it is not negligible,” Borrell told reporters.

A small group of member countries, notably Hungary, refuse to supply weapons to Ukraine, so these windfall profits would be divided up. Around 90% of the money would be put into a special fund that many EU countries already use to get reimbursed for arms and ammunition they send.

The other 10% would be put into the EU budget to help bolster Ukraine´s defense industry. Countries that object to sending weapons could then claim that they are not arming the country, Borrell said.

Well done Europe.  Well, if you actually get this done. 

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