Espreso. Global

Russian assets to remain frozen until war ends, EU pledges support for Ukraine — European Council

18 October, 2024 Friday
09:54

Russian assets subject to EU sanctions should remain frozen until Russia ends the war and pays compensation to Ukraine for the damage caused

client/title.list_title

The EU summit's final conclusions are posted on the European Council's website.

“The European Council underlines the importance of living up to the commitment made at the G7 Apulia Summit to provide together with G7 partners approximately EUR 45 billion (USD 50 billion) by the end of the year to support Ukraine’s current and future military, budget and reconstruction needs,”  the document says.

 

In this regard, the European Council invites the EU High Representative and the European Commission to cooperate with Ukraine on each of these components.

 

“Subject to EU law, Russia’s assets should remain immobilised until Russia ceases its war of aggression against Ukraine and compensates it for the damage caused by this war,” the EU summit resolution says. 

 

At the same time, in full compliance with the security and defense policies of individual member states, the European Council welcomed the agreement to use the extraordinary proceeds from Russia's frozen assets and stated that it would continue to consider all legal and financial aspects of this decision.

EU leaders support Ukraine

EU leaders who met in Brussels for a meeting of the European Council condemned Russia's aggression against Ukraine in the final document. They reaffirmed their support for Ukraine's sovereignty and territorial integrity and emphasized that Russia must not win its war of aggression.

 

The European Council reaffirmed its strong condemnation of Russia's war against Ukraine, calling it a blatant violation of the UN Charter, and reiterated its commitment to supporting Ukraine's independence, sovereignty, and territorial integrity within its internationally recognized borders. The Council also emphasized the EU's unwavering pledge to provide political, financial, economic, humanitarian, military, and diplomatic assistance to Ukraine and its people for as long and as intensively as needed. The document stressed that Russia must not be allowed to win.

 

The European Council also reaffirmed its support for a comprehensive, just and lasting peace based on the principles of the UN Charter and international law, and in line with the key goals and principles of the Ukrainian Peace Formula. In particular, as a follow-up to the Peace Summit, the EU and its member states will continue intensive global engagement to build the broadest possible international support for this initiative.

 

  • On October 17, Ukrainian President Volodymyr Zelenskyy presented the Victory Plan at a European Council meeting.

Tags:
Read also:
  • News
2024, Monday
23 December
21:45
Exclusive
Economist Pendzin names macro-financial support Ukraine will need in 2025
21:30
UK successfully tests ‘drone killer’ radiowave weapon 
21:16
Exclusive
Plan to create by autumn: Defense Express on formation of UAV troops in Russia
21:01
Exclusive
Can Russia's gas transit through Ukraine continue disguised as fuel from other countries?
20:45
Over 3,000 North Korean soldiers killed or wounded in Russia’s Kursk region
20:30
Slovak opposition condemns Fico's meeting with Putin in Moscow
20:13
Ukrainian forces repel 11 Russian attacks in Pokrovsk sector alone today
19:55
Switzerland joins new EU sanctions against Russia and Belarus
19:36
Ukrainian Defense Forces deny encirclement in Makarivka, Donetsk region
19:14
Ukrainian military demonstrates drone strikes on Russian forces
18:55
YouTube traffic in Russia falls to 20% of normal, signaling effective blockage
18:38
Why 2025 could be turning point for Ukraine’s foreign policy
18:16
North Korean 'kamikaze' drones: What they could send to Russia, their capabilities
17:55
Italy's largest bank, Intesa Sanpaolo, to stop accepting euro payments from Russian banks
17:34
Germany provides Ukraine with Leopard tanks, Patriot systems in latest military aid package
17:13
OPINION
Putin wants to prove he is not afraid of Trump
16:50
Slovak PM Fico’s Russian ties jeopardize European unity, Zelenskyy says
16:27
UK intel reveals drone count launched by Russia on Ukraine over last month
16:15
Exclusive
North Korea lacks technology to produce modern drones – national security expert
15:55
'It's unfair': Rutte asks Zelenskyy to stop criticizing Scholz
15:33
Belarus announces presidential candidates: Lukashenko runs for seventh term
15:16
Ukraine destroys Russian drone assembly facility, revealing unusual modifications to Shahed UAVs
14:56
Exclusive
Ukraine needs to step up its capabilities to strike inside Russia — military expert Zgurets
14:34
Russia escalates executions of Ukrainian prisoners of war
14:17
Exclusive
Four training grounds spring to life, Mariupol shows signs of offensive prep – official
13:57
Russia announces establishment of new drone warfare branch in Armed Forces by 2025
13:34
234 clashes occur at front on Dec. 22: Ukrainian forces target Russian ammo depot
13:16
Ukraine receives $1.1 billion from IMF
12:52
Russia issues fake documents to hide North Korean troops on frontlines
12:34
Evacuation vessel to transport Russian troops from Syria breaks down at sea - Ukrainian intel
12:16
OPINION
Unbearable cost of defeat for Ukraine
11:57
Why foreign volunteers join Ukraine’s battle for independence
11:35
Exclusive
Pro-Russian forces will seek to sow chaos in Ukraine's next presidential election - MP Kniazhytskyi
11:15
Exclusive
Ukrainian forces prevent Russian advance across Dnipro in Kherson region
10:56
Review
Explosions and fires hit key Russian military sites: Rostov, Murmansk, occupied Donetsk region
10:37
OPINION
Oreshnik becomes key element of blackmail: Putin vows revenge
10:13
North Korea poised to send additional troops, military gear to Russia, Seoul says
09:58
Russian warehouse housing $16 million in Shahed drone parts goes up in flames - Ukrainian intel
09:35
Russia loses 1,990 soldiers in day of war in Ukraine
2024, Sunday
22 December
21:13
Orbán’s gas strategy: Trap for Ukraine and Europe
More news