EU proposes immobilizing Russian assets to secure Ukraine loan
Financial Times — July 24, 2024, 08:00 AM UTC
Summary: The EU plans to propose indefinite immobilization of Russian central bank assets to address US concerns over a $50 billion loan to Ukraine. This measure aims to ensure repayment from profits generated by €260 billion in frozen assets. G7 leaders agreed on the loan in June, with expected annual profits of €3 billion. The proposal requires unanimous approval from EU member states, complicating negotiations.
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