Italian Prime Minister Giorgia Meloni warned the European Union that using Russia's frozen assets would violate international law. The European Commission is considering using these assets to help Ukraine.
World News: Amidst the ongoing conflict between Russia and Ukraine, Italian Prime Minister Giorgia Meloni has warned the European Union that any steps regarding the use of Russia's frozen assets must be taken in accordance with international law. Meloni's statement comes as the European Commission is considering using these assets for Ukraine's economic assistance.
Meloni Warns European Union
Ahead of the European Council summit in Brussels, Meloni stated that while pressure on Russia should be increased, using the assets of a sovereign state would violate international rules. She added that the European Union must maintain balance in its policies and avoid any steps that could send a wrong message to the international community.
Controversy Over European Commission's Plan
The European Commission has proposed that roughly 210 billion euros of Russian assets frozen in the European Union be used to guarantee loans to Ukraine in 2026 and 2027. This plan comes at a time when military aid from the United States to Ukraine has decreased. The reduction in US aid has impacted the defense and assistance budgets of European countries. Meloni opposed this proposal, stating that any financial or political decision must be implemented in accordance with international principles.
Italy's Different Stance on Britain's Decision
Recently, the United Kingdom stated that it was ready to send its troops to Ukraine. Following this statement, it was believed that other European countries might follow suit. However, Italian Prime Minister Giorgia Meloni clarified that her troops would not be sent to Ukraine. She stated that Italy believes in a diplomatic path to end the war and will not be part of any military intervention.
Limits of International Law
According to international law, confiscating or using the assets of a sovereign country is prohibited. Several European countries, the European Central Bank, and the International Monetary Fund (IMF) have already made it clear that a violation of these rules will not be acceptable under any circumstances. Russia has also repeatedly warned that using its assets to aid another country is tantamount to 'theft'.
Russia's Reaction
Russian Finance Minister Anton Siluanov has stated that if Western countries proceed in this direction, Russia will respond with a 'tit for tat'. He added that Russia would take all possible steps to protect its economic sovereignty.
Western Countries' Actions
When the Russia-Ukraine War began in February 2022, Western countries froze approximately $300 billion worth of Russian assets. About 200 billion euros of these are held by Euroclear, a clearing house based in Brussels. A portion of the interest generated from these assets has already been used to aid Ukraine.
