Ukraine urges EU to back loan using frozen Russian cash
Summary
Ukraine's President, Volodymyr Zelensky, has requested that the European Union support a plan to use billions in frozen Russian assets to help fund Ukraine's defense. This request is discussed as EU leaders meet in Brussels, with complexities involving legal challenges and potential consequences if the assets are used. Meanwhile, the EU and the U.S. have imposed new sanctions on Russia, targeting its oil revenues.Key Facts
- Ukraine's President Zelensky asked the EU to use €140 billion in frozen Russian assets to support Ukraine.
- These assets are held in a clearing house in Belgium.
- Legal issues exist regarding the use of this money, with Belgium being notably cautious.
- EU leaders are meeting in Brussels to discuss Ukraine's request.
- The EU and the U.S. have imposed new sanctions on Russia, particularly its oil industry.
- President Trump expressed frustration with Russian President Putin as U.S. sanctions were announced.
- Russia opposes the proposal to use its frozen assets and warned of a "painful response."
- China criticized the EU for including Chinese companies in the sanctions.
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