Hungary sues EU over frozen Russian assets sent to Ukraine

By RT International

 

Hungary has sued the EU over its decision to use frozen Russian assets to fund military aid for Ukraine, a move adopted despite Budapest’s opposition.

Western nations froze an estimated $300 billion in Russian assets after the escalation of the Ukraine conflict in 2022 – some €200 billion of which is held by Brussels-based clearinghouse Euroclear. The funds have accrued billions in interest, and the West has explored ways to use the revenue to finance Ukraine.

The lawsuit challenges the European Council’s decision last year to channel military aid to Ukraine through the European Peace Facility (EPF), which reimburses countries that send weapons to Kiev.

Implemented in February, the measure directs 99.7% of interest generated from frozen Russian central bank assets to Ukraine, providing an estimated €3-5 billion ($3.5-5.8 billion) annually…

READ FULL ARTICLE HERE… (rt.com)

 

---

Home | Caravan to Midnight (zutalk.com)

We Need Your Help To Keep Caravan To Midnight Going,

Please Consider Donating To Help Keep Independent Media Independent