EU’s Michel Admits Getting Hands on Frozen Russian Assets ‘Not Going to Be Easy’

European Council President Charles Michel conceded on Tuesday that drawing up a legal framework that would allow the European Union to seize frozen Russian state assets would not be an easy task.

"It’s not going to be easy because there are international and legal constraints. We need to work, but we will do so working with our G7 partners," he told a European Parliament plenary session.

The EU is estimated to hold some $300 billion of Russian central bank assets together with its G7 partners — the United States, Japan and Canada. The seven have been holding talks on how to unlock the money allegedly to fund Ukraine’s reconstruction, but Russia argues this is illegal and will ruin the West’s image as a safe haven for global money.