Assets of the Russian Central Bank, frozen within the European Union, cannot be returned to Russia following a ceasefire or peace agreement until reparations are paid to Ukraine.

Source: Kaja Kallas, EU High Representative for Foreign Affairs and Security Policy, ahead of an informal meeting of EU foreign ministers in Copenhagen on 30 August, as reported by European Pravda

Details: Kallas stressed that frozen assets must not be returned while Russia has not compensated Ukraine for war damages.

“We see that Russia does not want peace, although there are a lot of diplomatic efforts made to bring Zelensky and Russia to the table. Then, in relation to that, because it always comes up, we are going to have a deep dive into the frozen assets issue,” Kallas announced as one of the topics for today’s meeting.

She added that there are “some sensitivities” regarding Russia’s frozen assets, but “we really have to have an argument, a debate about this” to develop an “exit strategy” from the situation.

“We can’t possibly imagine that if there is a ceasefire or a peace deal, these assets are given back to Russia if they haven’t paid for the reparations,” the EU high representative emphasised.

Background: As reported by European Pravda, the EU may create a fund to facilitate the transfer of nearly €200 billion of Russian assets for the reconstruction of Ukraine.

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