No. of Recommendations: 3
This looks like a good idea.
Brussels AP —
The European Union on Friday indefinitely froze Russia’s assets in Europe to ensure that Hungary and Slovakia, both with Moscow-friendly governments, can’t prevent the billions of euros from being used to support Ukraine.
Using a special procedure meant for economic emergencies, the EU blocked the assets until Russia gives up its war on Ukraine and compensates its neighbor for the heavy damage that it has inflicted for almost four years.
EU Council President António Costa said European leaders had committed in October “to keep Russian assets immobilized until Russia ends its war of aggression against Ukraine and compensates for the damage caused. Today we delivered on that commitment.”
It’s a key step that will allow EU leaders to work out at a summit next week how to use the tens of billions of euros in Russian Central Bank assets to underwrite a huge loan to help Ukraine meet its financial and military needs over the next two years...
... Hungarian Prime Minister Viktor Orbán – Russian President Vladimir Putin’s closest ally in Europe – accused the European Commission, which prepared the decision, “of systematically raping European law.”
The vast majority of the funds – around 193 billion euros ($225 billion) at the end of September – are held in Euroclear, a Belgian financial clearing house. more at the link
The money was frozen under sanctions that the EU imposed on Russia over the war it launched on Feb. 24, 2022, but these sanctions must be renewed every six months, and all 27 member countries must approve them for that to happen.
https://www.cnn.com/2025/12/12/europe/eu-freezes-r... 