EU Spars With ECB on Plan to Tax Sanctioned Russian Assets
- G-7 finance ministers to discuss issue later this week
- Some EU members propose two-step process as compromise
Debris of a building destroyed following a Russian missile attack, in Kramatorsk, Donetsk Region, Ukraine.
Photographer: Genya Savilova/AFP/Getty Images
This article is for subscribers only.
The European Union sparred with the European Central Bank over plans to use profits from more than €200 billion ($217 billion) in frozen Russian central bank assets to help with Ukraine’s reconstruction, according to people familiar with the matter.
Officials in the EU’s executive arm on Thursday countered ECB President Christine Lagarde on the bank’s warning that moves against the sanctioned holdings could threaten the eurozone’s financial stability and liquidity of the common currency, said the people, who who asked not to be identified discussing sensitive discussions.