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The Guardian - UK
The Guardian - UK
World
Lisa O'Carroll Brussels correspondent

EU mulls levy on frozen Russian assets to support Ukraine reconstruction

European Union Ukraine United States United Kingdom Moscow
Rescuers work at night to rescue people from rubble
The reconstruction of Ukraine is predicted to cost $411bn and EU leaders are keen to find ways of making Moscow pay for part of it. Photograph: Genya Savilov/AFP/Getty

The EU is considering imposing a levy on interest made from frozen Russian cash that could raise about €3bn a year to help Ukraine’s recovery from the war.

A “windfall contribution” will be discussed by EU leaders at a European Council summit on Thursday and Friday in an attempt to harness the value of sovereign Russian funds immobilised by sanctions.

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