US EditionEU Rallies Behind Ukraine at Summit and Adopts New Sanctions Against Russia
EU sanctions target Russia's oil, gas, financial sectors, and tanker fleet while plans use $225 billion in frozen assets to support Ukraine's war effort.
- Thursday in Brussels, European Union leaders aimed to greenlight new sanctions on Russia targeting oil, gas, its shadow fleet and financial sector.
- Facing colder weather and renewed attacks, the bloc pressed for `unwavering support` for Ukraine, focusing on two mechanisms to pressure Moscow and fund Kyiv's defence.
- Leaders tackled a 140 billion interest-free loan for Ukraine, while Belgium, holding $225 billion in frozen assets, demanded EU-wide risk sharing before approving use.
- Ukrainian President Volodymyr Zelenskyy said `ceasefire is still possible` only if the international community applies `more pressure on Russia` and Ukraine accepts `no territorial concessions`.
- Preparing Europe for long-term defence, the summit aimed to sign off on a `road map` to prepare Europe by the end of the decade, as top officials warned Russia could strike within 3-5 years.
21 Articles
21 Articles
Chancellor Merz and many colleagues want to use Russia's assets frozen in the EU for Ukraine. At the EU summit, they succeed in taking a first cautious step. However, a mandate to make concrete proposals for a legally secure implementation fails due to Belgium's resistance.
The EU adopts new sanctions for Russia and wants to release frozen assets for Ukraine. However, Belgium fears legal consequences.
Ukrainian President Selenskyy called for an early decision on the use of frozen Russian assets. Kiev would use a significant part of it for the purchase of weapons, Selenskyy said at the EU summit in Brussels. Chancellor Merz was reluctant to agree on the issue at the meeting.
For the 19th time, the EU has adopted a package of sanctions against Russia, which further restricts energy imports. However, new disputes are threatening at the Brussels summit - focusing on Russian assets frozen by the EU.
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