Overview
- EU governments aim to agree on Friday to replace six‑month unanimous renewals with an indefinite freeze of Russian central bank assets using Article 122.
- Eurostat told treasuries the guarantees backing the €210 billion plan count as contingent liabilities, easing debt concerns for France and Italy.
- Belgium, where most assets sit at Euroclear, is demanding a larger cash buffer and binding safeguards, and Prime Minister Bart De Wever remains unconvinced ahead of the Dec. 18–19 summit.
- Hungary opposes shifting the freeze to qualified‑majority control and has rejected eurobond alternatives, prompting diplomats to weigh joint national funding or other fallbacks.
- Moscow has warned of lawsuits and retaliation if the EU uses or expropriates the frozen funds, and Euroclear’s chief has signaled readiness to challenge the scheme in court.