Spain proposes using frozen Russian assets for Europe’s defense, beyond Ukraine

32 comments

1. Let’s be real, by far the largest threat to EU security is Russia. Which also happens to be the adversary in the Ukraine war. This venn diagram is damn near a circle.

2. IANAL but this sounds like a legal tarpit. If the status of that money was 100% clear, it wouldn’t be still frozen. There’s a chance that it must be unfrozen and given back in the future. Also, reparation demands in the future wil probably exceed the frozen assets by far. Why set precedent today and make that money go away? “Despilfarro” is the spanish word for that, using other peoples money no less. AFAIK it belongs to russians (legally) or ukrainians (morally, and maybe some day legally too). Not EU, and certainly not spanish citizens who want to skimp on defense.

3. It’s definitely a step in the right direction, seeing the potential for leveraging those frozen assets to support both Ukraine and bolster Europe’s defensive capabilities is encouraging, and the sheer magnitude of €200 billion, as mentioned, really highlights the possibilities.

4. I support that 100%.

5. Spain proposes ~~Spain~~ *ahem* everyone gets a slice of the defend Ukraine from Russia money.

6. Ukraine will need to be rebuilt and rearmed. They are the ones who have suffered the cost of Russian expansionism by far the most, and therefore that is the best and most justified use for this money.

   The EU nations can more than afford to defend themselves.

7. >**Spain has proposed the creation of a new defense fund using frozen assets from the Russian Central Bank. The idea is to provide non-repayable grants, not only for supporting Ukraine but also for strengthening Europe’s defense lines, reports Bloomberg.**

   >Spain’s Minister of Economy, Carlos Cuerpo, introduced the proposal for such a temporary tool to fund large-scale, pan-European projects. He called on his EU colleagues to join the initiative.

   >”This is the time for European solidarity to support Ukraine and Eastern frontline countries. We need to invest together in defense, which is a genuinely European public good that benefits our citizens and bolsters our economic security,” Cuerpo said on the sidelines of a meeting in Warsaw.

   >Bloomberg explains that some countries in the bloc face a lack of funding. This means the EU needs to find additional financing options for the long-standing underfunding, and one of the topics discussed was the creation of new pan-European tools.

   >Unlike the proposed options based solely on concessional loans, Spain wants to provide EU countries with grants, particularly those in the East, which are more vulnerable to the Russian threat.

   >The proposed Spanish instrument, designed as a targeted mechanism, would be funded through contributions from member states, joint EU debt, and the European Stability Mechanism’s rescue fund.

   >Additionally, Madrid has stated that part of the Russian Central Bank’s frozen assets in Europe, totaling €200 billion ($227 billion), could also be used to finance military projects benefiting Ukraine.

   >EU Economic Commissioner Valdis Dombrovskis told reporters after the meeting that the Commission is “ready to explore new ways and options.” He added that Spain’s focus on supporting the eastern region “fits well in the discussion we are having.”

   >Speaking alongside the Commissioner, Polish Finance Minister Andrzej Domański, who chaired the meeting, said that the overwhelming majority of ministers believe additional defense funding tools may be necessary. He also called the solidarity shown by some southern EU members “encouraging.”

   >As a reminder, it was recently reported that EU finance ministers were set to discuss the creation of a joint intergovernmental fund that would purchase and own defense equipment. As announced, the UK and Ukraine may also be part of this initiative.

8. I support the seizure of Russian assets, but only for Ukraine.

9. Russia considers itself to be at war with us: so be it – we’ll take their cash, their London mansions and their mega-yachts!

10. Use it in Ukraine now, so Russia doesn’t have the ability to continue it’s expansionist goals.

11. Stop making proposals and do something. Shit or get off the pot.

    Indecision is what is causing fascist like Trump to take power. If you’re in a position to do something then you should just do it and stop talking about it.

12. It should all go to the defense and re-build of Ukraine as a victim of Russian aggression. If Europe benefits from the money, it would be theft.

13. European here. Ukraine IS Europe’s defence.

14. Yes do it. Do it now.

    There are almost no negative consequences of this anymore. Europe is now one of the safest place to invest money in now.
    China and saudi will want to play nice with Europe now that Trump has started a trade war with China and Saudi will be on edge while Trump deals with Iran.

15. Regardless of whether the proposal is feasible and/or convenient, the intention of the Spanish government is to “comply” with European defense investment requirements while spending as little as possible—or nothing at all by themselves.

16. Do it. Don’t talk about it. Just do it.

    While you’re at it declare those Russian oligarchs persona non grata as well.

17. Election integrity only comes up when you aren’t happy with results.
    Fraud is very rare. So sick of the bullshit

18. I agree, but Ukraine’s defence is the no. 1 priority

19. Fuck Russia and Lets go

20. Since Russia is the problem it only makes sense to have them pay for Europe ‘s defense.

21. Please do! Use it to combat the depraved government of Puss-tin, both commercial and cyber. This fight is occurring because of the unlawful environment allowed to exist on the internet. Take off the gloves, people.

22. Are they going to freeze the nu’b’es too? b《 k Burger King

23. Perhaps they should use conversation skills.

24. Don’t propose, do it!

25. I propose for Spain to do more for Ukraine’s defence. Comparing to other large European countries they barely do anything.

26. Been discussing for two years. Just do it.

27. That would be stealing, both from Russia and Ukraine.

28. Europe is already at war with Russia, whether they realize it or not. And they have been since Russia assassinated people on their soil, broke pipelines, blew up factories, etc.

29. The Spanish govt is very greedy.

30. While it would honestly be great. The reason it hasn’t been done is because it’d set a precedent and deter any future investments from neutral/rival nations.

    Long term this is a piss poor idea

31. Perfect.

32. Russia needs to be dissassembled and reassembled… Keep all the wonderful arts and culture… Obliterate the current political system. It is poisoning our planet.

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