By Tass

Copyright tass

STOCKHOLM, September 20. /TASS/. The mechanism for transferring frozen Russian assets in the form of a loan to Kiev needs additional work, which will take weeks, European Commissioner for Economy and Productivity Valdis Dombrovskis said.

“Right now we have presented or outlined the concept. But on exact modalities, this is still work ahead of us in the coming, I would say, weeks,” he said at a press conference following an informal meeting of the EU ministers of Economy and finance in Copenhagen.

Dombrovskis also noted that the next discussion of the mechanisms for issuing a “reparation loan” to Ukraine will be discussed at the next meeting of the EU Economic and Financial Affairs Council. Danish Economy Minister Stephanie Lose said the next discussion would take place “next month.”

Attempts to confiscate frozen Russian assets

On September 10, head of the European Commission Ursula von der Leyen said that the EC does not intend to confiscate Russian assets frozen in the West, but will use them to issue loans to Ukraine.

Most of Russia’s sovereign assets frozen in Europe – just over 200 billion euros – are blocked on the Euroclear site in Belgium. The depository has repeatedly opposed expropriation of the assets, warning that this could lead to Russia’s seizure of European or Belgian assets in other parts of the world in court.

Russian President Vladimir Putin said earlier that the overall financial and economic order in the world would be destroyed, and economic separatism would only intensify if the West steals frozen Russian reserves. Russian Presidential Spokesman Dmitry Peskov said that Moscow would definitely respond to the theft of its assets in Europe. He stressed that the Kremlin intends to organize legal prosecution of those involved in this scheme.