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.
