AssetID: 55123525
Headline: UNCAPTIONED: Germany Backs EU Plan to Send Frozen Russian Cash to Ukraine
Caption: Germany Backs EU Plan to Send Frozen Russian Cash to Ukraine. Germany has expressed support for the EU’s plan to use up to €172 billion of frozen Russian state assets to aid Ukraine's war effort. The plan involves sending Russian cash held in Belgium to Ukraine and replacing it with EU-backed bonds to avoid accusations of illegal confiscation. Michael Clauss, adviser to German Chancellor Friedrich Merz, described the proposal as a “legally sound” option that Berlin is willing to consider. Germany is now encouraging other EU countries to support the plan ahead of an informal European Council meeting in Copenhagen next Wednesday. The funds would be used as a “reparations loan” for Ukraine to purchase weapons rather than for rebuilding infrastructure. Some legal experts and Euroclear, the firm holding the cash, have expressed concerns about potential legal risks and international law violations. The €172 billion is mainly invested in Western government bonds, which the Commission proposes to swap with zero-coupon EU bonds guaranteed by EU members. The European Commission will present a formal proposal once sufficient backing from EU countries is secured while concerns over financial volatility remain. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Germany,European Union,Russia,frozen assets,Ukraine,Euroclear,reparations loan,EU bonds,European Commission,international law
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