In the European Union, fears are increasing about possible negative consequences for taxpayers in the event of confiscation of income from Russian assets. EU high-ranking officials warn that such actions may have unpredictable economic and legal consequences that will affect Member States.
It is a American plan for allocating a 50-billion credit to Ukraine-secured by these income. The main discussed option among the countries of the Great Seven, was confirmed by the head of the US Finance Ministry Janet Ellen.
But in Europe they are afraid that consent to the US proposal will bring Washington "PR-winning", and all the costs will eventually incur European countries. Since it will then have to repay the loans from the EU countries.
Therefore, European officials want to develop a spare plan in case the assets are returned to Russia. EU members who are in G7 (Germany, France and Italy) demanded that the US guarantees that their taxpayers will not "be hook" if Ukraine fails to serve their debt after hostilities.
At a G7, the Minister of Finance of Italy pointed to "Serious Technical and Legal Problems" during the conclusion of this Agreement. German Minister of Finance also urged to evaluate the economic and legal consequences and noted that "too early to speak specifically" about how assets can be used to support Ukraine.
