EC hopes to confiscate 15B euros in income from Russian assets by 2027

The European Commission hopes to confiscate 15 billion euros of income from the reinvestment of 208 billion euros of assets of the Central Bank of Russia frozen in the EU by 2027, European Commissioner for Justice Didier Reynders said at a press conference in Brussels, Report informs.

He stressed that before this money can be expropriated, many more stages must go through.

In Europe, 208 billion euros of state assets of Russia and the assets of the Central Bank of the Russian Federation are currently blocked, most of them in Belgium. There are many stages that must be gone through. When there is income from these assets, taxation of these incomes should be aimed at supporting Ukraine. The Belgian government has already taxed these incomes in 2023, and it can dispose of the proceeds from these taxes, in particular, direct them to support Ukraine, he noted.

Reynders emphasized that the European Commission is now dealing with the next stage of the seizure of Russian funds.

He did not specify the scheme the European Commission intends to use to appropriate these funds, but sources in Brussels reported earlier that the European Commission intends to introduce a direct European tax on this income, close to 100%, which will allow almost all of this money to be transferred to the EU budget.