Late concession by Belgium paved way for deal on using profits to buy ammo for Kyiv’s war effort.
The EU approved a plan to use the profits generated by investing frozen Russian assets to buy weapons for Ukraine.
Ambassadors meeting in Brussels on Wednesday gave the go-ahead after Belgium signaled a climbdown on the way it treats tax revenue on the cash — the last major obstacle to deal.
The profits generated by investing Russia’s assets immobilized in Belgium— where a large part of the assets frozen in Europe are kept — are worth between €2.5 billion and €3 billion per year.
I mean, freezing, doing anything other then leaving it alone does that to some degree.
My bigger concern is that l’d rather Russia’s funds be used for reconstruction.
I think that it will be easier to get political support for weapons in grant form than for reconstruction. Ukraine’s going to need both.