PACE adopts resolution calling for transfer of frozen Russian assets t

Details: Written by: Martin Fornusek; 15.Apr; Hits: 186

Editor's note: This is a developing story and is being updated.

The Parliamentary Assembly of the Council of Europe (PACE) voted unanimously on April 16 in support of a resolution calling for frozen Russian assets to be transferred to a new fund for Ukraine's reconstruction.

The Kyiv Independent

The Kyiv Independent is Ukraine’s fastest-growing English-language media outlet, created in November 2021, just three months before the full-scale Russian invasion of Ukraine.

Serve as the bridge between Ukraine and the world, delivering reliable news, context, and on-the-ground reporting.

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The full text of the resolution and other details are yet to be provided.

Ukraine's Western partners and other allies froze around $300 billion in Russian assets at the start of the full-scale invasion in 2022, with roughly two-thirds held at the Belgium-based financial services company Euroclear.

While some partners, like the U.S., have been pushing for funneling these funds directly to Kyiv, European countries have been more hesitant, fearing economic and legal pitfalls.

The EU is instead working on a plan to use the profits generated by the frozen assets to fund defense assistance for Ukraine.

PACE adopts resolution calling for transfer of frozen Russian assets to Ukraine

Content Original Link:

https://kyivindependent.com/pace-adopts-resolution-calling-for-transfer-of-frozen-russian-assets-to-ukraine/

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