[Foreign Media: Spain Proposes Establishing a Special Defense Fund Using Frozen Russian Assets Worth $2270 Billion in Europe]
On April 12, Bloomberg reported that Spanish Minister of Economy Carlos Cuevas proposed establishing a fund using frozen assets of the Russian Central Bank. In this way, funding could be provided for large-scale European defense projects and military aid to Ukraine.
Cuevas stated, "Now is the time for Europe to show solidarity on supporting Ukraine and the countries at its eastern border." European countries need to jointly invest in defense, which is a true public interest, "benefiting our citizens while enhancing our economic security."
The report pointed out that the new fund proposed by Spain will be capitalized by frozen Russian assets worth $2270 billion stored in Europe, mainly held by Euroclear in Brussels. These funds are used to finance military aid programs for Ukraine.
The report emphasized that the EU needs to find more ways to fund long-term underfunded defense projects. However, some countries, including Germany and Belgium, firmly oppose the idea of using frozen Russian assets.
On April 4, Ukrainian President Zelenskyy recounted how Russia attempted to redeem its frozen assets worth $30 billion in the West. Ukraine learned that Russians proposed to some countries that if their leaders allowed them to withdraw these funds to purchase goods in those countries, Russia would use this money to buy various products including high-tech items.
Since the outbreak of the full-scale war, Ukraine has been calling on Europe to use frozen Russian assets to provide military aid to Ukraine and assist with its reconstruction.
Original article: https://www.toutiao.com/article/1829205165859968/
Disclaimer: The article solely represents the author's viewpoint.