EU Considers Using Frozen Russian Assets to Support Ukraine
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The European Union is exploring the possibility of using frozen Russian assets to support Ukraine, as the country faces a significant financing gap due to the ongoing conflict. Estimates suggest Ukraine may need up to $54 billion over the next three years. Some EU countries are discussing this option, while others propose issuing more joint bonds. The IMF predicts a financing gap of $30-$35 billion in 2023, $17 billion in 2028, and $2 billion in 2029. The EU has already approved a €90 billion credit package and is calling on partners to provide an additional €30 billion this and next year.
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