At a value of $300 billion.. The European Union is considering using confiscated Russian assets for the reconstruction of Ukraine

The Financial Times reported on Monday that European Council President Charles Michel urged EU leaders to press ahead with talks on using Russia's $300 billion seized central bank assets for Ukraine's reconstruction.

The newspaper quoted Michel as saying that he wanted to discuss the idea of ​​managing the frozen assets of the Russian Central Bank to generate profits that could then be allocated to reconstruction efforts.

"It is about justice and fairness, and it must be done in line with legal principles," Michel added.

The European Union froze 300 billion euros ($326.73 billion) of the Russian Central Bank's reserves last November, to punish Moscow for its war in Ukraine.