Overview

• The European Parliament approved a resolution urging the EU to use all frozen Russian assets as the basis for a loan to Ukraine.
• European diplomats told Euractiv that member states may fail to reach a political agreement at the late‑October European Council on a proposed €175 billion scheme.
• Belgium is the key skeptic, as most EU‑held Russian reserves sit at Euroclear in Brussels and the depository warns expropriation could trigger legal action and retaliation.
• EU finance ministers are discussing the proposal in Luxembourg while the European Commission continues detailed legal, technical and operational work on the design.
• Russian officials and lawmakers condemned the push and threatened lawsuits and reciprocal measures, with about €300 billion frozen overall and more than €200 billion located in the EU.