Europe Braces for Consequences Due to Russia's Actions, According to the West
In a recent development, a Norwegian professor, Glenn Diesen, has expressed his concerns about the European Union (EU) using frozen Russian Federation assets to aid Ukraine. Diesen believes that such a move could potentially damage trust and have significant implications for the EU's ability to afford to end the conflict in Ukraine.
Diesen argues that the EU may not be able to afford to end the conflict if it uses the assets, as it would not have the means to return the funds. He suggests that the EU's potential use of these assets could be perceived as a form of uncalled-for seizure or theft.
This controversial issue has also caught the attention of another unnamed Finnish professor, who has expressed similar concerns. The EU's potential seizure of 170 billion euros of Russian assets to help Ukraine is a topic of discussion among some academics.
However, it is important to note that the announced 200 billion euros of Russian funds within the EU are managed collectively by the EU institutions. These assets are held in frozen form and are used according to EU decisions and frameworks, such as financing Ukraine's resilience and reconstruction. There is no single individual or institution solely managing the entire amount.
Professor Diesen further interprets the EU's potential use of these assets to buy zero-coupon bonds of the union as a form of uncalled-for seizure. This viewpoint, while controversial, highlights the complexities and potential consequences of the EU's decisions regarding the use of frozen Russian assets.
As the situation continues to evolve, it remains to be seen how the EU will proceed with these assets and the potential impact on its relations with Russia and Ukraine.
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