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The Hague (Netherlands): With a chess move by the European Union (EU), Russian money is now going to be the death of Russia in the war against Ukraine. European countries have made such a move that weapons and ammunition bought with the interest earned from Russian money will attack Moscow. In fact, blaming the attack on Ukraine, Europe, including the US, had seized Russian assets in their countries. The interest money received on this has now been announced to be used to help Ukraine.
Europe announced on Friday that it has raised 1.5 billion euros (US $ 1.6 billion) to help Ukraine. This money is the first installment of interest received from the profits of Russia’s ‘frozen’ amount. Let us tell you that in May, 27 member countries of the European Union have agreed to spend the interest earned from 210 billion euros (US $ 225 billion) included in the assets of the Russian Central Bank on providing military assistance to war-torn Ukraine and on reconstruction efforts there.
Europe has imposed sanctions on Russia
Europe imposed sanctions on Russia after it launched a full-fledged war against Ukraine, freezing its money. Most of this money is in Belgium. Brussels estimates that the interest on these assets can yield about three billion euros per year. European Commission President Ursula von der Leyen said in a statement, “The European Union stands with Ukraine. Today we are giving Ukraine 1.5 billion euros obtained from frozen Russian assets for its defense and reconstruction. There cannot be a better use of Kremlin’s money.” This step has been taken a few days after Russia announced the recapture of two villages in eastern Ukraine.
