The EU is considering indefinitely extending its sanctions on Moscow’s state assets, in a move that would soothe US concerns over plans to use the proceeds of Russian central bank funds to fund a $50bn loan to Ukraine.
Ambassadors from the 27 member states will meet today to discuss a European Commission proposal for the “open-ended immobilisation of the Central Bank of Russia assets”, according to a document seen by the Financial Times.
The move, which would apply to the European share of the €260bn worth of central bank assets immobilised outside of Russia, would “provide G7 partners with the highest degree of predictability” regarding the repayment of a $50bn loan that leaders of the grouping of advanced economies signed off on last month. The plan is to repay the loans with profits arising from the assets.