EU indefinitely freezes €210 billion in Russian assets to aid Ukraine

theguardian.com

The EU has agreed to indefinitely freeze €210 billion in Russian sovereign assets within the bloc. This decision is a significant step towards potentially using these funds to aid Ukraine's defense. This move utilizes emergency powers, removing the need for periodic renewal of sanctions, which previously posed a risk of veto. Russia has responded by threatening retaliation and filing a lawsuit against Euroclear, the custodian of these assets. The EU's plan involves a loan to Ukraine secured against these frozen assets, though Belgium has expressed concerns about potential lawsuits. The UK supports the initiative, with other G7 nations' participation uncertain.


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