EU poised to agree on using frozen Russian assets to help Ukraine in war
Summary
European Union leaders are meeting in Brussels to discuss using frozen Russian assets to provide financial support to Ukraine. The proposal includes a 140-billion-euro loan, but there are concerns about the legality of using these assets. Ukraine also received support from new EU and U.S. sanctions against Russia.Key Facts
- The EU is considering a plan to use Russian frozen assets to give Ukraine a 140-billion-euro loan.
- Leaders are meeting in Brussels to decide on this and talk about Ukraine's EU membership prospects.
- Belgium has legal concerns, as its securities depository holds a large number of these frozen assets.
- EU leaders are trying to ensure Belgium receives legal guarantees.
- Russia has reacted negatively, labeling asset seizure as illegal and likening it to theft.
- The U.S. and EU have agreed on new sanctions against Russia, including targeting its oil companies.
- The new EU sanctions aim to cut Russian revenue through energy, financial, and trade measures.
- Slovakia's agreement was critical in the EU's decision, given its reliance on Russian energy.
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