BRUSSELS, Dec 11 (Reuters) - Europe will take measures in the coming days over immobilising Russian assets in order to fund Ukraine, said Ireland's finance minister Simon Harris at a meeting of euro
Europe to Take Action on Immobilising Russian Assets Soon
BRUSSELS, Dec 11 (Reuters) - Europe will take measures in the coming days over immobilising Russian assets in order to fund Ukraine, said Ireland's finance minister Simon Harris at a meeting of euro zone finance ministers.
"The funding need is urgent. We need to make sure Russia pays," said Harris, adding it would be 'good to have' a decision this week.
The European Commission has proposed an unprecedented use of frozen Russian assets or international borrowing to raise money for Ukraine. The Commission prefers a "reparations loan" using Russian state assets immobilised in the EU due to Russia's invasion of Ukraine.
But Belgium, which holds most of the assets in the Euroclear securities depository, has raised a range of legal concerns, delaying a decision.
(Reporting by Jan Strupczewski;Editing by Sudip Kar-Gupta)
