“It is clear that this may have a damaging affect on the worldwide finance system,” Putin underlined. “The belief within the eurozone will decline, will fall abruptly.”
Putin warned Europe will undergo “an uneasy [economic] take a look at,” on condition that Europe’s largest financial system, Germany, “is in recession for the third yr.”
The European Fee has repeatedly stated that the initiative wouldn’t confiscate the property, that are at the moment held within the Brussels-based monetary depository, Euroclear. The transfer has met opposition from Belgium amid fears of Russian retaliation.
Relatively than seizing the property, the EU would successfully borrow cash from Euroclear and wire it to Kyiv to finance its protection towards Russian forces. The Fee will current the draft authorized textual content for €140 billion Ukrainian mortgage very quickly, Fee President Ursula von der Leyen stated Wednesday.
