German Parliament Rejects Proposal to Transfer Frozen Russian Assets
The Greens, the party behind the initiative, stated that the European Union holds approximately €210 billion ($244 billion) in Russian assets.
Since the intensification of the Ukraine conflict in 2022, the EU has faced difficulties in identifying legal mechanisms to seize these funds and channel them to Ukraine for support.
On Friday, 455 members of the Bundestag voted against a motion urging the government to “advocate within the G7 for the full transfer of frozen Russian state assets to Ukraine in accordance with international law.” Only 77 parliamentarians endorsed the measure, while 53 abstained from voting.
In the same session, lawmakers also rejected a proposal to prevent Russian companies from collaborating with the Lingen Nuclear Power Plant, with the vote tally standing at 453 against and 130 in favor.
Plans by the European Commission to use a portion of the Russian assets for Ukrainian assistance have been obstructed by Belgium, the host of Euroclear, the institution responsible for managing these funds.
Belgian Prime Minister Bart De Wever cautioned that outright confiscation could pose legal and security challenges.
Meanwhile, a spokesperson for Euroclear warned that the suggested ‘reparations loan’ might trigger a mass withdrawal of investors.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
