EU indefinitely freezes Russian assets: 210 billion euros locked

European Union freezes Russian assets

According to ХВИЛЯ: The European Union has indefinitely frozen Russian assets in Europe to prevent their blockage by Hungary and Slovakia in support of Ukraine. The total amount of frozen assets is 210 billion euros, of which about 193 billion euros is held in the Belgian clearing center Euroclear. This decision aims to prevent the use of these assets without Europe's approval.

Comments and consequences

President of the EU Council Antonio Costa noted that European leaders pledged in October to keep Russian assets immobilized until Russia stops its aggressive war against Ukraine and compensates for the damages caused.

“Today we fulfilled this commitment,” Costa emphasized.

It is also worth noting that the Central Bank of Russia filed a lawsuit in Moscow against Euroclear. Belgium opposes the 'reparative loan' plan, which may affect further decisions regarding the use of frozen assets. This decision highlights the unity of the European Union in supporting Ukraine and calling on Russia to cease hostilities.

Freezing Russian assets is an important step in ensuring financial support for Ukraine amid ongoing aggression from Russia. This initiative demonstrates the EU's determination in trying to hold Russia accountable for its actions and compensate for the damages caused to Ukraine. At the same time, the situation with the lawsuit from the Central Bank of Russia underscores the complexity of legal and financial issues that may arise in the context of international sanctions and their enforcement. This could have long-term implications for relations between Europe and Russia, as well as for the international financial system as a whole.