In addition, G-7 Eyes Plan on US-Led $50 Billion Aid Package for Ukraine. Plan would use profits from frozen Russian assets to repay aidLeaders from the G-7 countries will meet in Italy in June 15/
Full-scale invasion and national resilience, broadcasted live.
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Euroclear reduces management fee to 0.3% for Ukraine cash
Belgium's securities settlement house Euroclear handles the majority of the immobilized assets in the EU. Euroclear's management fee will be reduced from 3% to 0.3% to free up more cash for Ukraine. 10/
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G7 froze $300 billion Russian assets after Ukraine invasion
The G7 countries froze and hold around $300 billion worth of Russian financial assets shortly after the 2022 invasion of Ukraine 6/
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US proposes seizing assets, Europe hesitant, now collateral for Ukraine loans
The U.S. has proposed seizing the assets entirely, but Europe has been hesitant due to risks to the euro and potential legal repercussions. Washington has more recently pushed for using the assets as collateral for loans to Ukraine. 7/
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Belgium considers transferring tax profits to Ukraine from 2025
Belgium, where most of the assets are held, has agreed to consider transferring the collected taxes to Ukraine from 2025. It initially benefited from a 25% tax on the profits. 3/
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90% of EU funds for Ukraine weapons, 10% non-lethal aid
90% of the funds will go towards weapons for Ukraine, while 10% will be used for non-lethal aid to accommodate EU member states that do not wish to fund arms 4/
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G7 discusses using Russia’s frozen assets; Europe cautious on international law
The agreement opens broader discussions within the G7 about using Russia's frozen assets – including the body of the assets. Some European nations remain cautious about potential violations of international law 5/
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EU envoys agree to use frozen Russian asset profits for Ukraine
The deal involves using the estimated €4.4bn windfall profits from €191bn of Russian Central Bank assets held by Euroclear in Brussels. 2/ https://
reuters.com/world/europe/e
u-envoys-agree-use-profits-frozen-russian-assets-ukraine-2024-05-08/#:~:text=EUenvoysagreetouseprofitsfromfrozenRussianassetsforUkraine,-ByJuliaPayne&text=BRUSSELSMay8(Reuters),defencetheBelgiangovernmentsaid
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EU uses Russian frozen assets to fund Ukraine weapons and aid
A step toward victory for Ukraine and a failure for Russia. The EU has agreed to use Russia's frozen assets to fund weapons and aid for Ukraine The opposition from Hungary, etc to fund weapons's been overcome. Their "share" will fund humanitarian aid 1/
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Russia launches 183 explosions across 9 Sumy Oblast communities
Russia attacks 9 communities in Sumy Oblast. The attacks caused 183 explosions in the area, hitting the towns of Yunakivka, Esman, Seredyna-Buda, Bilopillia, Znob-Novhorodske, Myropillia, Velyka Pysarivka, Krasnopillia, and Shalyhyne.