The European Council said on Oct. 17 frozen Russian assets should "remain immobilized" until Moscow ends its full-scale war on Ukraine and makes reparations for damages caused to the country.

Estimates of the damage that Russian aggression over the past decade has caused to Ukrainian infrastructure have varied. The World Bank said in February 2024 it could be as high as $486 billion.

European countries hold roughly two-thirds of the $300 billion Russian sovereign assets immobilized after the outbreak of the full-scale war. While hesitant to confiscate the assets outright, the EU devised a plan to use windfall profits to fund Ukraine's reconstruction and defense needs.

🇺🇦@ukraine_report 🇺🇦🔱

https://kyivindependent.com/european-council-says-russian-assets-should-remain-frozen-until-end-of-war-payment-of-reparations/