EU agrees to indefinitely freeze Russian assets, removing obstacle to Ukraine loan
Summary
The European Union has agreed to indefinitely freeze Russian central bank assets in Europe, facilitating a loan to Ukraine backed by these frozen funds to support its defense against Russia.
Key Points
- The EU agreed to indefinitely freeze 210 billion euros of Russian sovereign assets in Europe.
- This freeze aims to enable a loan of up to 165 billion euros to Ukraine for military and civilian budget needs in 2026 and 2027.
- The loan would be repaid by Ukraine only if Russia compensates for war damages, effectively making it a grant.
- Hungary opposes the indefinite freeze, and Russia's central bank is suing Euroclear over frozen assets.
