EU leaders have reached an agreement to freeze Russian assets indefinitely, a step aimed at supporting reparations for Ukraine
- EU member states have agreed to freeze Russian assets indefinitely, despite Belgium’s objections.
- The Danish presidency of the EU Council confirmed the decision on Thursday. It marks a significant step toward using the assets, most of which are held by Euroclear in Brussels, to guarantee a reparations loan for Ukraine, according to Belga News Agency.
- The Danish presidency said EU member states have “agreed on a revised version of the Art. 122-proposal and approved the launch of a written procedure for formal Council decision by tomorrow around 5 pm,” adding that the decision was made by a “very clear majority”.
- The assets were frozen as part of European sanctions against Russia, and the bloc plans to use them in a loan to Ukraine. But those sanctions must currently be renewed every six months by unanimity.
- With Thursday’s move, member states aim to prevent the loan from being jeopardised if a country such as Hungary were to block a future renewal.
