Russian money trapped in Europe’s financial system is expected to throw off interest worth several billion euros a year. The problem: there is no agreement on what to do with it.
The European Commission has promised detailed proposals within weeks to divert the proceeds to support rebuilding Ukraine, part of a longstanding effort to make Russia pay for the destruction of the war.
But the move is fraught with legal and financial hurdles. EU leaders, who meet on Thursday, are divided on how to proceed. Some capitals are privately pushing the commission to delay its proposals.
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