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EU Freezes €210B in Russian Assets Indefinitely
The EU used emergency legal rules to freeze €210 billion in Russian central bank assets indefinitely to prevent vetoes and enable funding support for Ukraine.
- On Thursday, EU ambassadors agreed under Article 122 of the EU treaties to indefinitely immobilise 210 billion euros in frozen Russian assets, with 185 billion held at Euroclear in Brussels and 25 billion in private banks.
- The European Commission proposed emergency powers to replace six-month sanction renewals requiring unanimity, underpinning a reparations loan proposal to channel frozen assets to Kyiv.
- Belgium, host of Euroclear, has filed legal amendments and demanded guarantees over liability, while Russia's Central Bank sued Euroclear Friday, and Viktor Orbán vowed to restore lawful order.
- EU leaders will decide on Dec. 18-19 how to raise 90 billion euros for Ukraine's 2026-27 needs after a Friday vote aims to lock in frozen assets and sidestep vetoes.
- Embedding the measure positions the EU for prolonged confrontation by shifting sanctions into a sustained phase, while analysts warn of legal risks under international investment treaties and the move strengthens the basis for repurposing assets, with the G7 using interest to fund a $50-billion loan.
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259 Articles
Chancellor Sergei Lavrov had previously stated that Moscow has prepared a response to a possible deployment of EU troops in Ukraine and to the confiscation of Russian assets.
The EU's High Representative for Foreign Affairs and Security Policy, Kaia Kallas, said today that the European Union will not return frozen assets to Russia until Moscow pays reparations to Ukraine.
·Belgrade, Serbia
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So far, the maintenance of sanctions related to Russian assets had to be unanimously renewed every six months.
The EU Commission wants to use fixed Russian assets for Ukraine. Member States are now taking a first important step. However, a country is considering legal action.
Coverage Details
Total News Sources259
Leaning Left44Leaning Right30Center57Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 34%
C 43%
R 23%
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