Skip to content
Magazine
Wednesday, July 2, 2025
SUBSCRIBE
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
SUBSCRIBE

Assets into action: Von der Leyen proposes weaponizing Turning frozen Russian funds for Ukraine

Editorial Team by Editorial Team
13 May 2024
in European Commission News
credit: rferl

credit: rferl

European Commission President Ursula von der Leyen proposed on Wednesday using profits from frozen Russian assets to finance military equipment for Ukraine.

“It is time to start discussing using windfall profits from frozen Russian assets to jointly purchase military equipment for Ukraine,” von der Leyen said in a speech to the European Parliament in Strasbourg. How to use Russian state assets that were frozen after Russia launched its invasion of Ukraine two years ago is the subject of intense discussion, raising thorny legal questions. 

The option of confiscating these funds arouses strong reluctance within the 27, but the EU is working on ways to use the income generated by them. “With or without the support of our partners, we cannot let Russia win,” insisted the President of the European Commission, in a reference to a possible return of Donald Trump to the White House, likely to call into question the American engagement in Europe. More broadly, she insisted on the necessary strengthening of European sovereignty which consists of “taking responsibility ourselves for what is vital, even existential, for us”. “The threat of war may not be imminent, but it is not impossible,” she stressed. “The risks should not be exaggerated but we should be prepared for them.”

Investing in the industrial base

“Europe must take charge of its own security, which cannot depend on the results of elections among our allies every four years,” also said the Internal Market Commissioner, Thierry Breton, who is due to present a program on Tuesday to strengthen the European defense industry.

The plan will include mechanisms to better coordinate the sector at EU level and invest jointly in the industrial base which must become more powerful in the face of the Russian threat.

“We must change the paradigm and move into war economy mode. 

This also means that European defense manufacturers must take more risks” to increase their means of production, “and we will support them to give them more visibility,” explained Thierry Breton. As per sudinfo

Endowed for the moment with only 1.5 billion euros, the package for the defense industry remains significantly underfunded, due to the lack of willingness of many member states, including Germany, to put more money into the common pot.

The authorities of Transnistria, a pro-Russian separatist region of Moldova, adopted an official declaration on Wednesday demanding “protection” from Russia. In the middle of an international tour, Ukrainian President Volodymyr Zelensky meets leaders of South-Eastern Europe in Albania on Wednesday to demand their support for his country, which is lacking ammunition, while Russia is gaining ground on the front. The United States on Tuesday ruled out any idea of ​​sending troops to Ukraine. This hypothesis had been mentioned the day before by French President Emmanuel Macron. The Russian army took control of the village of Sieverné, in eastern Ukraine, on Tuesday. Moscow claims several successes in the Donetsk region since mid-February and the capture of the town of Avdiivka. Ukrainian President Volodymyr Zelensky insisted on Wednesday on the urgent delivery of arms and ammunition to his country in the face of Russia which is gaining ground on the front, during a summit in Albania of state leaders from south-eastern Europe. “We are experiencing problems with the supply of ammunition, which is affecting the situation on the battlefield,” Volodymyr Zelensky said, addressing these officials at the opening of the meeting.

Related News:

  • Request for the establishment of a “Rebuild Ukraine Fund” with the use of assets frozen as a result of the sanctions adopted by the EU against Russian individuals
  • EC proposes Chips Act, von der Leyen comments
  • EU mulls plans for frozen Russian assets
  • MEPs call on Von Der Leyen to take action in case of student detained by Egypt
Next Post
credit: yahoo

Amazon lobbyists banned and Thrasio files for bankruptcy

Latest post

EU-elections-UK

EU elections: UK looks on from the “outside”

1 year ago
Galeries-Royales-Saint-Hubert

What Makes Galeries Royales Saint-Hubert an “Institution”?

1 year ago

Most Read

    Follow Brussels Morning
    Facebook Twitter Youtube Linkedin

    Browse Important News

    Belgium News
    Brussels News
    Culture and Society News
    Economy News
    EU Institutions News
    European Commission News
    European Council News
    European Parliament News
    Europe News
    Health And Fitness News
    Southeast Europe News
    Sustainable Perspective
    World News
    Diplomacy News
    US Elections News

    About Us

    Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

    More Info

    • About Us
    • Advertise With Us
    • Contact Us
    • Cookies Policy

    Join Our Newsletter

    Brussels Morning Newspaper – All Rights Reserved © 2024

    No Result
    View All Result
    • Home
    • About Us
    • Belgium News
      • Belgium Police News
      • Brussels News
    • Brussels Bubble
      • European Parliament News
      • European Commission News
      • European Council News
    • Wider Europe
      • Member States
    • World News
    • Business & Society
    • Europe With Transparency
    • Culture & Society
    • Policy Talks
      • Place de la Bourse
      • The Macro-Economist
      • Sustainable Perspective
      • Ambassador’s Corner
      • The American Angle
      • Southeast Europe
    • Print Magazine

    Brussels Morning Newspaper - All Rights Reserved © 2020

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Cookie settingsACCEPT
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT