Biznes Fakty
Donald Tusk: Time for action. Now!
Enough of discussions, it’s time to take action! Let’s fund support for Ukraine using frozen Russian assets – Prime Minister Donald Tusk stated on Thursday via Platform X. He emphasized the need to enhance the security of European borders with Russia, safeguard the airspace, and implement new fiscal regulations to ensure the funding of the European Union’s security.
„Enough discussions, it’s time for action! 1. Let’s use frozen Russian assets to finance our assistance to Ukraine. 2. Let’s enhance the security of our airspace, Baltic Sentry, and the borders of Europe with Russia. 3. Let’s swiftly establish new fiscal rules to support the security and defense of the EU. Now!” – Prime Minister Donald Tusk declared on the X platform.
Baltic defense, frozen Russian funds
During the Helsinki summit on January 13, leaders from Denmark, Germany, Sweden, Finland, Estonia, Lithuania, Latvia, and Poland, alongside the NATO chief, announced the launch of a new Baltic Sentry mission, which involves the deployment of allied naval vessels in the Baltic Sea and the Gulf of Finland. The maritime patrol and protection operations will also be enhanced by reconnaissance aircraft and maritime drones.
Following Russia’s full-scale invasion of Ukraine in February 2022, Western nations froze nearly half of Moscow’s foreign exchange reserves, equating to around 300 billion euros. Approximately 200 billion euros are retained within the European Union, predominantly in Euroclear, an international financial entity that secures transactions for banks, stock exchanges, and investors. Euroclear, located in Brussels, specializes in capital market transactions.
The second installment of revenue derived from frozen Russian assets, totaling EUR 1.9 billion, is set to be allocated to Ukraine in April, as reported by Minister of European Affairs Adam Szłapka on February 11 during a session of the European Parliament in Strasbourg, where he represented the EU Council in regard to the Polish presidency.
On Tuesday, Finance Minister Andrzej Domański noted that the Polish presidency has proposed a method to exclude defense expenditures from the assessment of debt and deficit. The minister expressed optimism that the work would be completed by May at the latest. This would enable member states to invest in armaments without necessitating budget cuts in other sectors.
