Meeting in ‘inclusive Eurogroup’ format, the European finance ministers reaffirmed “their unwavering support” for Ukraine and their determination to help it meet its financing needs at a remote meeting on Wednesday 5 June (see EUROPE 13423/15).
“The meeting recalled last month’s unanimous decision by all EU member states to direct extraordinary revenues generated by immobilised Russian assets in Europe. The discussion between the ministers showed that they appreciated the constructive commitment of the G7 partners in this respect and that they were fully in favour of it continuing”, stated the President of the Eurogroup, Paschal Donohoe, in a press release.
According to our information, the meeting showed a preference on the part of the ministers for finding a solution at the level of the G7 countries on leveraging, starting in 2025, of the profits generated by the assets of the Bank of Russia immobilised since the Russian military aggression in Ukraine. Such a solution could then be rolled out at EU level, provided that the technical and legal difficulties raised by the Europeans are resolved. This could imply the need for the EU to develop its specific regime (see EUROPE 13413/21).
According to Mr Donohoe, at their meeting in Luxembourg on 20 June, the ministers will examine “the need to continue discussions after the G7 summit” in Puglia, which will address the subject in mid-June. (Original version in French by Mathieu Bion)