EU agrees in principle to give profits from frozen Russian assets to Ukraine

EU agrees in principle to give profits from frozen Russian assets to Ukraine

Agreement to effectively sequester €190bn came late on Thursday after almost a year of negotiations

EU leaders have agreed in principle to commandeer a large majority of windfall profits generated from frozen Russian assets and give them to Ukraine.

The agreement late on Thursday comes after almost a year of negotiations over the legal basis for the effective sequestration of €190bn held in the Belgian central securities depository Euroclear.

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