The European Union has postponed a decision on the use of frozen assets of the Russian Central Bank until the December summit. This important decision is linked to Belgium's position, which demands additional guarantees due to the risks associated with the potential diversion of Russian funds to arm Ukraine. European leaders have decided that the list of action options will be discussed at the upcoming summit after additional analysis prepared by the European Commission.
Currently, the frozen assets of the Russian Central Bank, amounting to 140 billion euros on EU territory, are being used to support Ukraine. A final agreement among EU countries on this issue is expected by the end of the year.
The majority of the Central Bank of Russia's assets remain in the Belgian depository Euroclear. The European Union continues to work on a mechanism for directing these funds to Kyiv, specifically through the implementation of appropriate procedures.
The announcement that the EU has postponed its decision on the use of frozen assets of the Russian Central Bank until the December summit indicates the significance of discussing financial assistance for Ukraine and avoiding potential risks related to the movement of funds from Russia. The European Union's decision is still pending due to work on additional guarantees and control mechanisms for this process.