Alex Ritson
π€ SpeakerAppearances Over Time
Podcast Appearances
From the European perspective, why is using Russian money, European leaders generally see Russia as the aggressor in this war, why is that controversial?
Because if you are Belgium, for example, and you are hosting 200 billion euros worth of Russian cash, you are worried about being legally compelled to pay Moscow back once the war is over.
Now, what Europe is saying is, well, there's no legal mechanism for that.
It's not going to recognise Moscow's courts.
And it's also saying that it would spread the risk.
But even Euroclear, which is the institution which houses this cash in Belgium...
It has its own frozen assets inside Russia, so it's about vulnerability.
And to boot, there is also another concern here, which is that America has been lobbying European members to block it as well, because there have been previous proposals leaked that shows Washington wanting to get its own hands on this cash for future investments with Russia.
So there are a lot of forces at play here.
James Waterhouse.
And as talks continue in Brussels, the war in Ukraine rages on.
Kiev is making no assumptions about support and is moving to ramp up production of its own weapons.
After being heavily reliant on the West, Ukraine now says it's producing more than 50% of the weapons it uses on the front line.
That includes long-range drones and missiles to hit targets deep inside Russia.
Our defence correspondent, Jonathan Beale, has been given rare access to facilities now mass-producing these weapons, which they say are the only way of providing Ukraine with reliable security guarantees.
We're being driven to a secret location.
It's all a bit cloak and dagger.
been asked to put eye masks on so we can't see where we are we're going to the factory where they produce ukraine's long-range missiles this is where they're making ukraine's own cruise missile the flamingo and there is a finished product on a lorry ready to go it's 12 meters long
It has a wingspan of two meters.
It's got a rocket up on top.