By using the immobilized Russian assets under its control, the European Union is resisting outside pressure from Washington and Moscow to gain a place at the table. Although the move is daring, there are a lot of unanswered questions. The European Union is establishing boundaries.
Europeans are trying to force their way back to the bargaining table after the White House ignored them during direct talks with Russia about Ukraine’s future. The €210 billion in Russian Central Bank assets that have been rendered immobile by EU sanctions since February 2022 is one card they have yet to play.
Last month, a 28-point plan covertly crafted by US and Russian officials that outlined the preliminary principles of a post-war framework nearly hijacked the September-started attempt to hold Russia accountable.
Europeans were shocked by many of the document’s themes, which they perceived as blatantly pro-Russian and anti-Ukrainian. It appeared to be a prelude to surrender rather than a peace agreement.
A contentious Point 14 of the plan, which proposed dividing the immobilized Russian assets into two distinct investment companies that would have allowed both Washington and Moscow to profit financially, surprised and infuriated Europeans.
Also Read:
Empowering Strategic Growth: An Exclusive Conversation with Marc Snyderman
Gareth Hazelden: Shaping the Future of the Global Financial Landscape with Atlantic Capital Markets
