EU Leaders Agree ‘Fundamentally’ on Using Frozen Russian Assets for Ukraine
EU Leaders Agree ‘Fundamentally’ on Using Frozen Russian Assets for Ukraine
At a recent EU summit, Polish Prime Minister Donald Tusk announced a “fundamental agreement” among leaders regarding the use of frozen Russian assets to provide financial aid to Ukraine. While acknowledging the need to clarify many technical details, Tusk emphasized the determination of all participants to find a solution. Ukrainian President Zelenskyy, present at the summit, had urged the EU to quickly make these funds available, stressing that a delay would weaken Ukraine’s position. The EU plans a two-to-three-year aid package, aiming to maintain Kyiv’s solvency using these assets. Despite general consensus, concerns persist, particularly from Belgium, where the financial institution Euroclear manages a significant portion of Russia’s central bank assets. Hungary and the Czech Republic also express reservations or outright opposition to further aid. German Chancellor Merz reiterated support for the plan, and Belgian Prime Minister De Wever signaled readiness for compromise.