MEPs to push for seizing Russian assets and phasing out Russian energy
In two debates on Wednesday afternoon, MEPs are set to call on the EU to use frozen Russian assets to support Ukraine and accelerate the phase-out of Moscow’s energy.
During the first debate with representatives of the Polish Council Presidency and the European Commission MEPs are set to renew their calls to move from freezing Russian assets to seizing them and using them to support and rebuild war-torn Ukraine. Following Russia’s full-scale invasion of Ukraine in 2022, the EU, the U.S. and its allies froze over 300 billion U.S. dollars in Russian sovereign assets, with the vast majority of which is held in the Belgium-based securities depository Euroclear. In July 2024, the EU made available the first €1.5 billion transfer of interest generated from immobilised Russian assets to support Kyiv, which was channelled through the European Peace Facility and to the Ukraine Facility to support Ukraine's military and reconstruction efforts.
In the second debate with representatives of the European Commission, MEPs are set to call on the EU to accelerate the phase-out of Russian gas and other Russian energy commodities.
Debates: Tuesday 11 March
Procedure: Statement by the Council and the Commission (Russian frozen assets) and statement by the Commission (phase-out of Russian energy)