The European Commissioner for Economy and Productivity, Implementation and Simplification, Valdis Dombrovskis, declared this Friday at the Forum Europa in Brussels that the EU will not release frozen Russian assets until the country pays for the reconstruction of Ukraine.
Dombrovskis recalled at this breakfast briefing organised by New Economy Forum in the EU capital that, according to international laws, the aggressor is responsible for the damage it is creating. We will make sure that Russia pays for the damage it is creating in Ukraine, he insisted.
While waiting to see how the situation in Ukraine is resolved, the European Commissioner stated that the EU will continue to put pressure on the aggressor, referring to Russia. In this regard, he referred to the new package of 16 sanctions approved this week. He also guaranteed that all the assets that the EU has been freezing from Russia are generating benefits and are being used for Ukraine.
However, Dombrovskis acknowledged that, given the new geopolitical context, the EU must step forward in Ukraine and fill some gaps that the United States may leave with its new foreign policy. This would not only include financial capabilities for the country presided over by Volodymyr Zelensky, but also military support. Perhaps this is what Ukraine needs now, he warned.
The European Commissioner pointed out in his speech that security and prosperity are interdependent. For this reason, the European Commission is beginning to take bold measures with regard to security. A certain sense of urgency has been installed in Brussels and the commissioners began working a week ago on the possibility of moving forward towards a substantial increase in European defence spending, as Dombrovskis pointed out.
The current EU Multiannual Financial Framework extends until 2027, a date that seems far away when the priority is to act now and for the money to strengthen the defence of the states to arrive now. The solution that the Commission is studying is to give additional flexibility to the member states by activating escape clauses so that countries can spend more on defence. Dombrovskis stressed that, given the turn in the United States, Europe has to enhance its own security and strengthen its defence capabilities and industry.
