The European Union will be able to initiate the withdrawal of income from frozen Russian assets in favor of Ukraine by 2024. The amount will range from 5 to 8 billion euros, and the funds will be received the following year.
Deputy Head of the Office of the President Iryna Mudra stated this in an interview with RBK-Ukraine. She previously held the position of Deputy Minister of Justice.
"When the issue of transferring excess profits to Ukraine was discussed in the European Commission, it was decided that this would be possible starting from 2024. Accordingly, all income generated by the end of this year can be transferred to Ukraine if the EU adopts the appropriate legislation. We expect such a decision in the near future," she said.
According to her, after the imposition of sanctions in 2022 and the freezing of funds of the Russian Federation in the Euroclear system, 5.2 billion euros of income were accumulated for 2022-2023, of which 4.4 billion euros are income for 2023, and 825 million euros are for 2022.
"These funds are held in a separate account, and there is currently no question of transferring these funds to Ukraine," she said.
The exact amount of income for 2024 cannot be determined yet as it depends on the maturity dates of securities.
"Obviously, by the end of 2024, the amount will be larger, as there will be more repayments... Our expectations are that the payouts will be between 5 to 8 billion euros, depending on the amount repaid in 2024," Mudra said.
Iryna Mudra was recently the Deputy Minister of Justice and was involved in issues related to reparations and the transfer of frozen Russian assets to Ukraine. On March 30, Mudra was appointed Deputy Head of the Office of the President, and in her new position, she will continue to address these issues.
