Italy Urges Caution on Using Frozen Russian Assets for Ukraine Aid

Italy's ruling parties are advising careful consideration of utilizing frozen Russian assets to aid Ukraine, highlighting potential financial repercussions. The Italian government seeks a thorough EU review and alternative options, amid divided opinions on military support for Kyiv and concerns over state finances.

Italy's ruling parties are urging a cautious approach regarding the use of frozen Russian assets to support Ukraine, emphasizing the need to carefully assess the financial implications. The European Union has proposed using part of the roughly €210 billion worth of Russian central bank assets frozen in Europe to support Ukraine's military and civilian needs.

However, some EU member states, including Belgium, have expressed concerns over this plan. Russia's central bank has filed a lawsuit, claiming the EU's intentions are illegal and could force Rome to contribute to damages if the legal action succeeds. Italy's draft resolution, due for a parliamentary vote, calls for a thorough EU review of legal and financial options.

The document, crafted by the ruling Brothers of Italy, League, and Forza Italia parties, stresses the potential impact on Italy's finances, advocating alternative funding solutions like EU-backed bridge loans to meet Ukraine's needs. Despite the challenges, Italy promises multidimensional support for Ukraine, urging continued pressure on Russia to expedite peace.

(With inputs from agencies.)