FT: Belgium proposed obliging Russia to pay debts before confiscating assets
The Belgian government briefed representatives of Western and G7 countries on the initiative to issue debt for the reconstruction of Ukraine, using Russian assets as collateral. A British newspaper reports this Financial Times (FT).
According to the initiative, Russian assets frozen in Europe will act as a guarantee of debt repayment. In this case, the allied countries of Kyiv will first demand that Russia repay the debt on the issued obligations, and in case of refusal, they will begin to confiscate frozen assets. “Among other things, this will allow us to defer the issue of what will happen to Russian sovereign assets,” a source familiar with the negotiations told the FT.
Previously, Belgium expressed concern about the confiscation of Russian assets. According to Samuel Cogolati, a member of the Committee on International Affairs, this is due to possible lawsuits from investors from Russia.
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