Some Western banks are lobbying against EU plans to allocate up to €3bn this year from profits generated by frozen Russian assets to Ukraine, fearing potential litigation and an erosion of trust in the banking system, as reported by Reuters citing anonymous sources familiar with the matter.
Leaders of the EU’s 27 member countries agreed at a summit in Brussels yesterday to move ahead with work on the plan, which could include using up to 90 per cent of the proceeds to buy arms for Ukraine’s overstretched military.
