EU leaders will look at the European Commission's proposal to set up a new fund to counter US green subsidies at the two-day summit this week, an EU official told reporters on Wednesday
BRUSSELS (Pakistan Point News / Sputnik - 08th February, 2023) EU leaders will look at the European Commission's proposal to set up a new fund to counter US green subsidies at the two-day summit this week, an EU official told reporters on Wednesday.
"As for the sovereign fund, we expect a debate on this issue," the official said in Brussels, adding there was no clarity on where the money would come from.
European Commission President Ursula von der Leyen suggested that the European Sovereign Fund could help build out the bloc's industrial capacity by providing subsidies and tax credits to green tech companies.
The leaders, meeting in Brussels on Thursday and Friday, will also look at ways to tighten sanctions pressure on Russia over the conflict in Ukraine, including by cracking down on companies in third countries that help it evade sanctions on imports of European goods.
As part of its 10th sanctions package, the European Union is also considering limiting exports of Russian nuclear fuel, although the bloc remains divided on the issue.
Another contentious piece of legislation on the table deals with confiscation of Russian state assets blocked during the previous rounds of sanctions. The EU official told reporters that EU leaders would debate "the issue of using the frozen assets."
