The EU flag in front of the European Commission headquarters in Brussels, Belgium, in 2022. Photo: AFP
The European Union (EU) has agreed to freeze indefinitely the assets of the Russian Central Bank in EU member states, totaling approximately 210 billion euros (246 billion USD). This decision has removed a major obstacle to using these funds to support Ukraine.
The EU wants to continue securing financial support for Ukraine, given that the conflict in Ukraine is a threat to its own security. The indefinite freezing of assets aims to persuade Belgium to support the EU's plan to use frozen Russian cash to provide Ukraine with loans of up to €165 billion to cover military and civilian budget needs in 2026 and 2027. Ukraine will only repay this loan once Russia pays conflict reparations to Kyiv; therefore, the loan is essentially a grant to encourage future Russian reparations payments.
Under the agreement, Russian sovereign assets are frozen indefinitely instead of the EU having to vote every six months to extend them. This decision eliminates the risk of Hungary and Slovakia refusing to extend the agreement at some point, forcing the EU to return the funds to Russia.
EU leaders – the European Council – will meet on December 18 to finalize the details of the compensation loan and resolve outstanding issues, including assurances from all EU governments to Belgium that it will not bear the full cost if Moscow's potential lawsuit is successful.
The Central Bank of Russia (CBR) asserts that the European Commission's (EC) plan to use the bank's assets frozen in Europe is illegal and contrary to international law. The CBR has filed a lawsuit against the Belgian securities depository firm Euroclear at the Moscow Arbitration Court, alleging that Euroclear caused damage to the CBR and seeking compensation.
Source: https://vtv.vn/eu-dong-bang-vo-thoi-han-tai-san-cua-nga-100251213183653164.htm
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