EU leaders delay decision on using frozen Russian funds to aid Ukraine
Summary
EU leaders met to discuss financial support for Ukraine but did not approve using frozen Russian assets for this purpose due to objections from Belgium. The leaders agreed to explore other options to support Ukraine financially. A final decision is anticipated at the next summit in December.Key Facts
- EU leaders met in Brussels to discuss funding Ukraine's needs during the conflict with Russia.
- They considered using 140 billion euros from frozen Russian assets for a loan to Ukraine.
- Belgium opposed the legal basis of using these assets, halting the current plan.
- Euroclear, a Belgian financial group, manages the frozen assets.
- These assets were frozen after Russia's full-scale invasion of Ukraine started in 2022.
- Russia called the idea of using these assets illegal and threatened retaliation.
- EU leaders will explore other financial support options and decide more by December.
- The EU announced new sanctions on Russian energy exports, including banning liquefied natural gas imports.
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