Copyright © 2021 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

EU’s Russian funds should go to Ukraine — Eliseyev

EU’s Russian funds should go to Ukraine — Eliseyev

Ukraine’s representative to the EU, Ambassador Konstantyn Eliseyev, is proposing that investments frozen out of Russia as a result of sanctions be transferred to Ukraine, reports UNIAN, July 31.

“This would be a logical step both from the political and the economic points of view. It also would be fair, considering the scope and nature of Russia’s crime against Ukraine. These funds, for example, could finance a special EU program to restore the Donbas,” he explained.

Commenting on the decision to approve sanctions against Russia, the Ukrainian diplomat said that decision “was a turning point in EU’s perception of Russia’s provocative and unacceptable conduct towards Ukraine.”

“This move also served as an important political signal — that force and aggression are not acceptable in international relations in the twenty-first century. This decision gives us confidence that the European Union will continue to take decisive steps if Russia does not stop and continues to destabilize the situation in the east of Ukraine. Today we have seen clearly that economic interests must not take precedence over our shared values,” Eliseyev said.

Commenting on the fact that sanctions in the area of military-technical cooperation will not affect existing contracts, including France’s sale to Russia of the Mistral helicopter carrier warships, he emphasized that this contract violates the rules of the EU and in principle cannot be considered in the context of economic sanctions alone.

“This type of contract must be reviewed on the basis of the requirements of the legislation of the European Union,”  he concluded.

As previously reported, in March 2014, Russia, breaking all international agreements, annexed Crimea and continues to destabilize the situation in eastern Ukraine, where it sends armed terrorists. Additionally, the Russian government is providing military, logistic, economic and financial support to the terrorist organizations, the “people’s republics” in Donetsk and Luhansk.

On July 16, the situation in Ukraine was examined at a meeting of the European Council

As a result, the European Council asked the European Investment Bank (EIB) to suspend the financing of new public sector projects in the Russian Federation. “The Member States of the European Union will coordinate their positions with the Board of the European Bank for Reconstruction and Development (EBRD),” the EU Council statement said.

The European Council also invites the European Commission to “reevaluate the program as part of EU-Russia cooperation in order to decide, in each case, to suspend the implementation of programs on bilateral and regional cooperation,” the statement concluded.

Russia is the largest recipient of project financing from the EBRD — EUR 1.8bn in 2013, while all EBRD investments around the world total EUR 9bn a year. EIB loans to Russia in 2013 amounted to US $1.4bn.

______________________________

Translated by Anna Mostovych

Source: UNIAN

 

 

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here


    Total
    0
    Shares
    Related Posts