EU criticism prompts removal of clause on use of Russian assets from US "peace plan" – Bloomberg

The US peace proposal for Ukraine no longer contains the clause on using frozen Russian assets for Ukraine's reconstruction under US management – a provision strongly opposed by European countries.

Source: Bloomberg, as reported by European Pravda

Details: After negotiations in Geneva, European officials said they are optimistic that the revised draft no longer mentions the plan to use around US$100 billion of frozen Russian assets to finance US-led reconstruction efforts in Ukraine, according to people familiar with the matter.

The earlier proposal envisaged that the United States would receive 50% of the profits and that any unused frozen assets would be placed into a US-Russian investment fund.

European officials also said they are optimistic that the administration of US President Donald Trump is now working together with Europe after the initial plan caught Kyiv's allies off guard.

Background:

• The Financial Times reported that following the Geneva talks – after which amendments were made to the Trump team's original proposal – the number of points in the plan was reduced from 28 to 19.
• Prior to this, European officials were privately expressing anger that the original US proposal on the use of Russian assets for Ukraine risked undermining ongoing EU negotiations on the issue.
• The European Union insists that decisions on future EU sanctions against Russia and the fate of frozen Russian assets must rest with the EU itself.

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