Austria Opposes Using Frozen Russian Assets for Ukraine's Military Aid

Written by Camilla Jessen

Mar.21 - 2024 3:18 PM CET

Photo: Wikimedia Commons
Photo: Wikimedia Commons
Austria is against transferring profits from the frozen assets of the Russian Federation to weapons for Ukraine

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Austrian Chancellor Karl Neghammer expressed Vienna's stance against the proposal of utilizing profits from frozen Russian assets within the EU for military aid to Ukraine.

In a statement prior to an EU leaders' summit, as reported by "European Truth," Neghammer commented on the proposal of the European Commission to transfer profits from Russian assets frozen in the EU to weapons for Ukraine

According to Neghammer, Vienna supports the idea of ​​using these funds to rebuild Ukraine, but opposes them being used to finance military aid.

"For us, as a neutral state, it should be ensured that the money, where we give our consent, is not transferred to weapons and ammunition. Initially, it was discussed that it would be invested in the reconstruction of Ukraine. I consider this proposal to be reasonable," stated the Austrian Chancellor.

Hungarian diplomats have also voiced opposition regarding using the frozen Russian funds for Ukraine's military.

On the other hand, German Chancellor Olaf Scholz and Belgian Prime Minister Alexander De Croo have shown support for the European Commission's suggestion to use the income from Russian assets for Ukraine's defense needs.

The European Commission's plan entails directing 90% of the profits from the immobilized sovereign Russian assets through the European Peace Fund for purchasing arms for Ukraine, with the remainder allocated for recovery and reconstruction efforts.

This proposal is set for discussion among EU's 27 country leaders at a summit, yet, according to reports, a conclusive decision may be deferred due to opposition from certain member states.

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