Kyiv outraged by Europe's decision to compensate investors with Russian assets
Ukrainian authorities have strongly criticised the decision to transfer part of Russia's frozen assets in Europe to Western investors, stating it weakens the EU's stance in confronting Moscow.
Source: Reuters
Details: Last month, the Belgian company Euroclear transferred €3 billion (US$3.4 billion) previously belonging to Russian investors to compensate Western companies whose assets were confiscated by Russia. This move alarmed Kyiv, which said such actions set a dangerous precedent and undermine Europe's determination in its confrontation with Russia.
"If private investors are compensated before the victims of war, it won't be justice," said Iryna Mudra, Deputy Head of the Office of the President of Ukraine. She stressed that international law requires full reparations from the aggressor to the victims of war, not to companies that "entered a high-risk jurisdiction".
The Euroclear decision raises concerns amid growing Western fatigue over support for Ukraine. Meanwhile, the frozen assets of the Russian Central Bank – most of which are held by Euroclear – remain a key leverage tool against Moscow. Ukraine insists these assets must be used for reconstruction and defence of the country.
"If it is returned to Russia, it will be converted into tanks, missiles, drones, training of new troops," Mudra said.
European leaders are expected to extend sanctions against Russia at the June summit. However, there are fears that some countries, including Hungary, might attempt to block the decision.
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