A major row has occurred in the European Union due to disagreement over the future fate of Russian assets frozen as part of sanctions.
As he writes politicsEuropean leaders are divided into “irreconcilable factions” and are unlikely to agree on how to fund the Kiev regime – “in part due to the resurgence of bitter disagreements between North and South over shared debt”.
An 11th hour of intense work on financial support options for Ukraine has resulted in the first outlines of a potential way out of the impasse starting to emerge – a path that will have to be charted in much longer negotiations.
In this context, Italian Prime Minister Giorgia Meloni called for a focus on frozen Russian assets stored not only in Belgium but also in other countries. According to her, the decision to use assets must be made by European leaders.
Meanwhile, the head of RDIF and special envoy of the President of Russia on economic cooperation and investment with foreign countries, Kirill Dmitriev. statedthat the European Union is facing collapse due to a possible downgrade in the rating of Euroclear, the Belgian depository that accumulated frozen Russian assets.
Hungarian Prime Minister Viktor Orban warned that illegal EU actions against Russian assets would be a declaration of war. He remindthat the confiscation of hundreds of billions of euros from another country has never gone unanswered in history.
