Charles Michel reveals EU countries plan to discuss confiscation of frozen Russian assets on March 23-24

Charles Michel reveals EU countries plan to discuss confiscation of frozen Russian assets on March 23-24

Image of Charles Michel, President of the European Council. Credit: European Union

The confiscation of frozen Russian assets is one of the topics that will be discussed during the European Union summit on March 23-24 announced Charles Michel.

According to Charles Michel, the President of the European Council, one of the topics of discussion during the European Union summit on March 23-24, will be the confiscation of Russia’s frozen assets. They will also consider expanding the EU’s military production capacity and a plan to supply Ukraine with a million shells over the course of a year he added.

Speaking this Tuesday, March 21, Michel said: “Our goal is to provide Kyiv with a million shells within 12 months and provide it with adequate funding. We will also continue to work on accountability for crimes, on the use of frozen Russian assets, and on attracting the international community to support a rules-based world order”.

Michel explained that at the beginning of the summit, Volodymyr Zelenskyy, the President of Ukraine, will address the heads of the EU, to whom all those present, according to tradition, will “express their unwavering support”, as reported by

The summit will also discuss efforts to lower energy and electricity prices, the growing migrant crisis, foreign trade, and the EU’s increased competitiveness on the world stage. In addition, the summit participants will consider the financial and economic situation in the eurozone after the recent collapse of Silicon Valley Bank and Credit Suisse.

After the start of Vladimir Putin’s invasion of Ukraine, the European Union imposed sanctions against Moscow. Included in this action were the many assets of Russian companies and entrepreneurs. As a result, about half of the international reserves of the Bank of Russia were frozen, which Moscow called unacceptable.


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Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at