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Politics

Greek Envoy Says EU Will Give Frozen Russian Assets to Help Ukraine

February 27, 2024

ATHENS – Greece’s Special Envoy to Ukraine, Spyridon Lambridis, expressed confidence that the European Union will agree to allocate profits from frozen Russian assets to support Ukraine in its ongoing battle against invasion, now in its third year.

In an interview with Agence France-Presse, as reported by European Pravda, Lambridis stated that the EU is nearing a consensus on utilizing seized assets to establish a fund for Ukraine’s assistance. “I believe this will come to fruition within a matter of months,” he remarked.

He projected that the fund could yield between €50-60 billion ($54.26-$65.11 billion). “This may seem insignificant, but it represents a significant step towards holding the Russians accountable,” Lambridis added. However, he cautioned about potential retaliation from Russia due to the confiscation of assets, citing its perceived violation of international law, which could prompt Russia to target Western assets in return.

“Undoubtedly, there will be a response from the Russians. However, even if they pursue legal action against us in international courts, I am confident we will prevail,” he asserted. The European Council previously adopted a decision that advances the establishment of a mechanism to utilize surplus profits from frozen Russian assets within the EU for the benefit of Ukraine.

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