Overview

• Eurogroup president Paschal Donohoe said the EU has made significant progress on channeling profits from immobilized Russian assets through work on ERA loans over the past year.
• He noted that EU officials are examining additional options for the assets, with parallel deliberations continuing within the G7.
• The European Commission is developing a scheme to transfer nearly €200 billion of frozen Russian funds for Ukraine’s post-war reconstruction.
• Belgium’s foreign minister Maxim Prévot reiterated opposition to relocating assets concentrated in Belgian banks, warning of risks to the country’s investment climate.
• Roughly €200 billion remains frozen under sanctions, with a large share held at Euroclear under EU financial markets legislation.