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.
They are just using the interests that this frozen capital generates and using that (instead of continuing to pay the interests to the Russians).
I don’t know a thing about that but isn’t it just stealing money? And if they are already stealing money why not steal all of it?
They are not taking away any money from the existing funds. And that is the important thing IMO. Rather, they are using that large amount of money and investing it (safely) so that they generate surplus money that they use. Hiwever, they arent taking away money that is currently there.