MOSCOW, October 22. /TASS/. EU countries are considering using frozen Russian assets to support Ukraine, despite legal and financial concerns; Russia is boosting non-commodity exports and redirecting trade toward friendly nations; and Fatah warns Hamas against retaining power in Gaza. These stories topped Wednesday’s newspaper headlines across Russia.
EU member states including Germany, France, Italy, Denmark, Finland, and Poland, along with the European Commission (EC), Norway, and the United Kingdom, are developing measures to "use the full value" of Russian assets frozen since 2022 to support Ukraine, according to a joint declaration by the leaders of these countries published on October 21. Earlier reports indicated that at the EU summit on October 23, a decision might be made on a "reparation credit" mechanism - effectively a confiscation of the frozen assets. Experts interviewed by Vedomosti believe that the seizure of Russian assets could destabilize the eurozone and trigger investor flight.
On October 10, the EC acknowledged that EU members had not reached a consensus and agreed only to continue talks. However, on October 20, EU foreign policy chief Kaja Kallas announced "progress" in negotiations. And on October 21, Politico reported that EU members had already reached agreement on a plan to use 140 bln euro of the total 210 bln euro in frozen Russian assets. Belgium, where most of these assets are held within the Euroclear system and which had earlier questioned the legality of the "reparation credit," reportedly assured the EU that it would not object.
