UK and Canada to Join EU Plan to Tap Russian Assets for Ukraine

cross-posted from: https://scribe.disroot.org/post/5082281

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• The UK and Canada will join a European Union plan to tap a portion of the almost $300 billion in Russian central-bank assets held by Group of Seven nations to support Ukraine.
• The plan would provide loans to Ukraine to purchase weapons and bolster its economy, without seizing the assets outright, through a mechanism that would avoid this.
• The EU aims to reach a political agreement on using the assets at a meeting in Brussels next week and start work on a mechanism to release money by the second quarter of next year.