London (CNN) — Money generated by Russian financial assets frozen in Europe will soon start flowing to Ukraine, giving Kyiv a boost as it struggles to counter an advance by Moscow’s troops. “Ukraine has substantial needs, and being able to marshal significant resources to help Ukraine is important,” she said. Most of the frozen Russian money is held in Europe, and the euro is the world’s second-most important currency after the US dollar. Apart from seizing the stash of assets, or lending Kyiv money backed by the interest they earn, there’s a third option the West might consider — a so-called reparations loan. This would give Kyiv access to a much larger amount of money than using future or current windfall profits from Russian assets.

Source: CNN May 24, 2024 05:06 UTC