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Reuters
Reuters
Politics
By John Chalmers

EU proposal would send proceeds of frozen Russian funds to Ukraine

FILE PHOTO: European Commission President Ursula von der Leyen attends the European Parliament plenary session in Brussels, Belgium November 9, 2022. REUTERS/Yves Herman/File Photo

The European Commission proposed a plan on Wednesday to compensate Ukraine for damage from Russia's invasion with proceeds from investing Russian funds frozen under sanctions.

Officials in the EU, United States and other Western countries have debated whether Ukraine can benefit from frozen Russian assets, including around $300 billion of Russia's central bank reserves and $20 billion held by blacklisted Russians.

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