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EU indefinitely freezes Russian assets, moving closer to financial lifeline for Ukraine
Business

EU indefinitely freezes Russian assets, moving closer to financial lifeline for Ukraine

by Luca Léry Moffat

The European Union has agreed to indefinitely freeze Russian central bank reserves, moving the bloc a step closer to securing a financial lifeline to Kyiv as the war heads into its fourth year. "I welcome the decision of the council on our proposal to continue the immobilization of Russian Sovereign Assets," President of the European Commission Ursula von der Leyen wrote on Twitter on Dec. 12. The move means that roughly 210 billion euros ($245 billion) in Russian assets will now remain blocke

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EU indefinitely freezes Russian assets, moving closer to financial lifeline for Ukraine

The European Union has agreed to indefinitely freeze Russian central bank reserves, moving the bloc a step closer to securing a financial lifeline to Kyiv as the war heads into its fourth year. "I welcome the decision of the council on our proposal to continue the immobilization of Russian Sovereign Assets," President of the European Commission Ursula von der Leyen wrote on Twitter on Dec. 12. The move means that roughly 210 billion euros ($245 billion) in Russian assets will now remain blocke

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Europe’s plan to fund Ukraine is being blocked by one company — Euroclear

Europe’s plan to fund Ukraine is being blocked by one company — Euroclear

About the author: Olena Havrylchyk is a Professor of Economics at the University Paris 1 Panthéon-Sorbonne. The proposal to use immobilized Russian assets to finance a "reparation loan" for Ukraine will again be discussed at the next European Council meeting on Dec. 18 and 19. The purpose of this loan is to advance Russia’s future reparations in order to cover Ukraine’s reconstruction and recovery needs, which are estimated at 506 billion euros (nearly $589 billion). At the previous summit, B

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