The latest Version of a European Union (EU) Proposal to Support Ukraine Financially, is the Closest yet to being in Compliance with International Law, European Central Bank President Christine Lagarde said on Wednesday.
EU Leaders have been Debating for months, how to use Immobilized Russian Assets, in a Belgium Bank, to Finance Ukraine, while Remaining in Compliance with International Law that Prohibits Outright Confiscation.
Most Leaders want to put to Work some 210 billion euros ($244 billion) of Russian Sovereign Assets, but this will likely require some Guarantees to Belgium.
The idea has been put in place, and is going to be Debated at the next European Council Meeting. It is the Closest to Compliance with the International Law Principles.
European Central Bank (ECB) President Christine Lagarde, who has No Direct Role in the Process, has long Expressed Concern about using Russian Assets, and said the ECB is keen for any Outcome to respect Iinternational Law, otherwise the Global Reputation of the Euro could be Compromised.
"It's a very, very exceptional case, and it does not remove the title of Russia to the assets," Lagarde said of the Current Proposal.
Lagarde also said the EU needed to Explain what was happening, and make clear that the Bloc was Not Engaging in a Practice of Confiscating Sovereign Assets simply because it Suited its Interest. The Money was to be used to Rebuild Ukirane when the War ended. It was
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