'Robin Hood Plan': Poland, Baltic states mull using frozen Russian assets to help rebuild war-torn Ukraine

New Delhi: Poland and the Baltic states are anticipated to press EU leaders to expedite the process of using frozen Russian assets for the reconstruction of Ukraine ‘as soon as possible.’ In the lead-up to a two-day EU summit, where the Russian invasion will be discussed, the leaders of Poland, Latvia, Lithuania, and Estonia stated in a letter, “in order to be credible on this matter vis-a-vis Ukraine”, the bloc had to go beyond reiterating previous commitments and “accelerate our work in the council right now,” reported The Guardian. The letter was addressed to the European Council President Charles Michel, European Commission President Ursula von der Leyen and Sweden’s Prime Minister Ulf Kristersson. Sweden currently holds the rotating presidency and is in charge of developing agendas for the EU Council of Ministers. The prime ministers of Poland, Latvia, Lithuania, and Estonia wrote that the frozen assets should be used to “cover the cost of Russia’s aggression against Ukraine, including to support Ukrainian internally displaced people, as well as to the benefit of future reconstruction of Ukraine.” These four countries are Ukraine’s most vocal EU allies, and have urged the western governments to use Russia’s €300 billion of frozen central bank reserves to assist internally displaced people and begin rebuilding the country. “Those frozen assets must be used as soon as possible. We cannot wait until the war is over and a peace agreement is signed,” the statement said. UK pushing for the same plan Even the UK is considering this idea to see if the frozen Russian assets can be used to help Ukraine. “We’re currently working with international partners through the legal process to use those assets to fund Ukrainian reconstruction,” said UK PM Rishi Sunak. He added, “We’ve ensured the provision of funds here will be put in a foundation for reconstruction in Ukraine and we’re currently working with international partners through the legal process to use those assets to fund Ukrainian reconstruction,” reported the Independent. Earlier, a legislation on seizure of Russian assets was introduced in the UK Parliament by Chris Bryant.

⚡️🇬🇧The UK has done the first step to put russia’s war chest to work for #Ukraine. Legislation on seizure of russian assets was introduced in the Parliament. Let’s push this forward! @margarethodge @RhonddaBryant #TetyanaNesterchuk pic.twitter.com/4QWfKc2sVW

— Kira Rudik (@kiraincongress) February 8, 2023

The proposal remains controversial The topic has been a matter of discussion and it is argued that seizing Russian assets would be illegal under international law, undermining the rules-based order. According to EURACTIV, the EU has been looking into ways to use frozen Russian assets, but the proposal is controversial due to a lack of legal framework or precedent, and discussions are still in their early stages. The idea is likely to be discussed at the EU summit, which Volodymyr Zelenskyy will attend on his first visit to Brussels since Russia’s invasion. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.