Portugal supported the use of Russia's frozen assets for Ukraine
Portugal will not stand in the way of using frozen Russian assets to finance Ukraine if European Union countries reach a common position on this issue.
Lisbon supports the idea of using Russia’s frozen assets to benefit Ukraine, while acknowledging Belgium’s concerns about potential financial and legal risks.
“Portugal supports this idea and will never stand in the way of using these 200 billion euros,” Rangel assured.
The minister emphasized that Belgium’s concerns and its demand for financial guarantees at the EU level are justified.
According to Rangel, any agreement that would force Belgium to assume a disproportionately large share of legal or financial risks could negatively impact international financial markets’ confidence in the country.
That is why, he said, Portugal supports the need to take Belgium’s position into account when drafting a joint EU decision.
Rangel expressed hope that EU countries will be able to find a “very constructive solution” regarding the use of frozen Russian assets.
At the same time, he acknowledged that the issue of guarantees for Belgium remains relevant and requires further resolution.
Thus, Portugal is ready to support the use of approximately 200 billion euros in frozen Russian assets to aid Ukraine, but only on the condition of a joint agreement among EU countries and proper consideration of the financial and legal risks for Belgium.
He made these remarks in a speech before a parliamentary committee, according to Reuters
The Committee on Legal Affairs and Human Rights of the Parliamentary Assembly of the Council of Europe supported the use of Russian state assets to pay Ukraine compensation for damages caused by the war. The corresponding draft resolution and recommendations were prepared based on a report by British parliamentarian Tony Vaughan.
As a reminder, Belgium has categorically refused to transfer Russia’s frozen assets to Ukraine.
Ukrainian Foreign Minister Andriy Sibiga expressed his gratitude to the foreign ministers of Sweden, Poland, the Netherlands, and Spain for their joint initiative. This refers to a letter to the European Commission calling for the use of frozen Russian assets for the benefit of Ukraine.
