The new peace plan promoted by the United States has thrown the European Union's proposal to use Russia's immobilised assets to assist Ukraine into disarray, APA reports, citing yahoo.com.
In a dramatic reversal for the EU, the US-led plan suggests the Russian assets would be unblocked, released and turned into an investment platform handled by Washington. The language implies the Kremlin would not only be spared from paying war damages in a future settlement but also benefit commercially.
The plan, which has been presented to Kyiv for negotiations, goes directly against the EU's goal to make Russia pay for the destruction caused as a result of the war and issue a reparations loan to support Ukraine's financial and military needs.
Ukrainian President Volodymyr Zelenskyy said on Friday that his country is facing "a very difficult choice: either loss of dignity, or the risk of losing a key partner" in reference to the US. The Trump administration is pushing an aggressive timeline on Kyiv to secure an agreement by the end of next week.
The 28-point blueprint, drafted without European input and directly negotiated with Moscow, includes a section that addresses the immobilised assets of the Russian Central Bank, estimated to be worth about €300 billion across G7 jurisdictions.
The text pitches the creation of two separate funds: one led by the US with European participation to finance Ukraine's post-war reconstruction and another shared by the US and Russia to develop "joint projects in specific areas".
Point 14 says, "$100 billion in frozen Russian assets will be invested in US-led efforts to rebuild and invest in Ukraine. The US will receive 50% of the profits from this venture. Europe will add $100 billion to increase the amount of investment available for Ukraine's reconstruction. Frozen European funds will be unfrozen."
The remainder of the frozen Russian funds, the text also reads, would "be invested in a separate US-Russian investment vehicle that will implement joint projects in specific areas. This fund will be aimed at strengthening relations and increasing common interests to create a strong incentive not to return to conflict."
As a result, Moscow would secure a lucrative arrangement after the war it started.
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