EU approves creating working group to transfer Russia's frozen assets to Ukraine

The Committee of Permanent Representatives of the European Union approved on Wednesday a decision to create a special working group to study the possibility of transferring arrested or frozen assets of Russia in the EU to Ukraine, the Swedish Presidency of the Council of the EU said, Report informs via TASS.

"EU ambassadors today approved the establishment of an ad hoc working party on the use of frozen and immobilised Russian assets to support Ukraine's reconstruction.

The purpose of the working party is to address the use of frozen and immobilised Russian assets in line with EU and int law. It includes preparatory work on the legal, financial, economic and political analysis of the feasibility of such use in close coordination with int partners," the Swedish Presidency of the Council of the EU tweeted.

Since the spring of 2022, the EU has repeatedly stated that it has frozen about $300 billion of Russia's gold and foreign exchange resources. In the fall, the European Commission reported on the freezing of another $19 billion of "Russian oligarchs."