US EditionEU close to deal on Russian assets, summit to go on until agreement - Costa
EU leaders aim to mobilize €210 billion in frozen Russian assets to fund Ukraine’s 2026-2027 defense, pending qualified majority approval at the Brussels summit.
- European Council chair Antonio Costa told reporters in Dublin that leaders will decide at a Dec 18 summit in Brussels and may extend talks until Dec 19 or 20 if needed.
- Facing strained public finances, EU leaders pledged on Oct 23 to bankroll Kyiv and prefer deploying about 210 billion euros of frozen Russian sovereign assets held in Europe.
- The Commission's plan would issue a Reparations Loan of up to 165 billion euros by swapping Russian cash for EU triple-A bonds, with most frozen assets held at Euroclear and paid to Ukraine in installments over two years.
- Beyond legal fights, Moscow has reacted that Russia labelled the scheme 'theft', Belgium demands guarantees for shared financial risks, and the European Central Bank warned it could undermine euro confidence.
- With Ukraine needing funds by early 2026, the International Monetary Fund estimates requirements at 135 billion euros, while Canada and Britain explore similar options amid Hungary's political holdout.
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The Great European Asset Heist Will Fail - The Ron Paul Institute for Peace & Prosperity
Let’s stop pretending Brussels is engaged in noble statecraft. The EU’s rush to steal more than €180 billion in frozen Russian sovereign assets held at Euroclear is the most reckless gamble Europe has taken in decades. Moscow’s central bank is not wrong to call the move unlawful; its lawsuit against Euroclear merely underscores a simple truth: weaponizing sovereign reserves violates long-standing norms that have protected global capital flows fo…
Brussels would be ready to issue Eurobonds to guarantee 185 billion loans to Ukraine
Belgian Prime Minister Bart De Wever has said he does not rule out legal action if the EU approves a plan that is unacceptable to his country to use frozen Russian assets.
EU Council President Costa expects an agreement on the use of frozen Russian assets for Ukraine before Christmas.
EU member states are set to speed up a decision-making process on legislation that would freeze up to 210 billion euros in Russian state assets indefinitely in a bid to sidestep Hungarian Prime Minister Viktor Orbán before next week’s EU summit. The push to urgently pass the legislation, which would invoke extraordinary powers to bypass national vetoes on extending sanctions, is aimed at preserving the EU’s room for manoeuvre in the Ukraine peac…
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