Overview
- EU countries approved an indefinite immobilization of frozen Russian assets until Russia ends the war and pays reparations to Ukraine.
- Russia’s central bank called the EU plans illegal and filed a claim in the Moscow Arbitration Court against Euroclear seeking damages.
- Roughly €210 billion in Russian assets are frozen in the EU, with about €193 billion held by Belgium-based Euroclear.
- Hungary and Slovakia oppose using the assets for Ukraine, with Viktor Orbán alleging EU law violations and Robert Fico rejecting measures that cover military costs.
- Belgian officials and the European Central Bank have warned of risks, including potential Russian retaliation against Belgian interests and damage to confidence in the euro.