"This is the first time the president has expressed support for the confiscation of Russian assets", a spokesman said.
European Council President Charles Michel has come out in favour of confiscating Russian assets frozen in the European Union under sanctions so that they can be used for the reconstruction of Ukraine.
And he believes that the donors' conference for the reconstruction of Ukraine in Warsaw in which he is participating should be the starting point for a kind of European Marshall Plan for Ukraine.
"Personally, he is absolutely convinced that it is extremely important not only to freeze the assets, but also to make it possible to confiscate them so that they are available for the country that is being rebuilt," Charles Michel told Ukrainian news agency Interfax in an interview from Brussels.
"This is the first time the president has expressed support for the 'confiscation' of Russian assets," a spokesman commented."
US President Joe Biden asked Congress at the end of April to give him the power to seize assets of Russian oligarchs frozen in the US to be used for the benefit of Ukraine. Canada is in the same line.
"Difficult procedure"
Brussels was asked for the opinion of the legal service of the European Council on the applicability of the confiscation measure because "there are 27 legal systems and in many EU member states a court decision is necessary", explained Charles Michel.
"It is a difficult and long process", he admits.
Charles Michel is in Warsaw where he is participating in the donors' conference for the reconstruction of Ukraine.
"I see three priorities for this conference and three objectives. The first is humanitarian aid, the second is money, the third is reconstruction," explains the President of the European Council. "In my opinion, this conference will be the starting point for a European Marshall Plan for Ukraine.
"It is important to ensure that the Ukrainian authorities are able, in the days and weeks to come, to provide the resources needed to achieve these three objectives," said Charles Michel, who is also in favour of the idea of transferring 10% of the Special Drawing Rights of the International Monetary Fund from the Member States to Ukraine, according to AMP. "We need to examine for which states this might be possible," he said."
Contents of this article including associated images are belongs Cyprus Times
Views & opinions expressed are those of the author and/or Cyprus Times
Source
