The European Union plans to use Russia’s frozen assets to help Ukraine, which has caused strong opposition from Moscow. Europe wants to cover Ukraine’s funding needs for the next two years using Russian assets. Russia called the plan “theft” and filed a lawsuit.
About 210 billion euros (approximately $230 billion) of Russian assets are frozen in Europe, mostly held in Euroclear bank in Belgium. The European Commission proposes to give Ukraine a loan of 90 billion euros (approximately $99 billion) from these assets. Ukrainian President Volodymyr Zelensky says it is fair to use these funds to rebuild infrastructure destroyed by Russia.
Belgium is worried about financial risks. Officials say that if Russia takes countermeasures, the damage could fall on Belgium.
Within the European Union, there is also no unified opinion. Some countries support using Russian assets, while others say it may create legal risks.
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