EU Presses Plan to Tap Frozen Russian Assets for Ukraine Ahead of Dec. 18–19 Summit

Overview

• The European Commission said it will keep consulting member states up to the Dec. 18–19 European Council meeting to seek a final decision securing Ukraine financing for the next two years.
• Roughly €210 billion in Russian sovereign assets are targeted, including about €185 billion held at Euroclear in Belgium.
• Belgium is resisting without legally binding guarantees from other EU countries to cover potential losses and liabilities tied to retaliation or litigation.
• Ursula von der Leyen described the proposed expropriation as a key act for the EU’s defense and said the support would ensure Ukraine’s survival.
• Experts cited by TASS argue the move faces formidable legal and political barriers, while Russian officials denounce it as theft and threaten immediate countermeasures.