European Council expects to use Russian assets to restore Ukraine without seizing them - EU official

BRUSSELS. Feb 8 (Interfax) - While considering aspects dealing with aiding Ukraine, the European Council will try to make progress regarding the use of frozen Russian assets in order to restore Ukraine, but it does not involve confiscating them, a high-ranking official of the European Union told reporters.

It is sanctions, not seizure, it means that the money can be used, but it must be returned when the policy changes, the EU official told reporters, speaking about the agenda of the upcoming EU summit in Brussels on Thursday.

There are obligations defined by law, the official said. It is difficult from a legal point of view, but work involving experts and political leaders is underway, the source said, adding one of the working tracks is open as part of the Group of Seven.

The final decision is not expected at the current stage, the objective is making progress towards it, the official said.

Answering a follow-up question, the EU official reiterated that the money cannot be irretrievably spent.

If one manages 300 billion euros well, several billions could be obtained for restoration, the official said, adding that these assets need to be identified and accessed first, and the mechanism of use would be determined.