EU set to indefinitely freeze Russian assets, removing obstacle to Ukraine loan

EU set to indefinitely freeze Russian assets, removing obstacle to Ukraine loan

The Straits Times - Business·2025-12-12 19:16

BRUSSELS, Dec 12 - The European Union looked set on Friday to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Moscow's invasion.

EU governments aim to sign off by 1600 GMT, through a qualified majority vote, on a plan to immobilise ‍210 ​billion euros ($246 billion) worth of Russian sovereign assets for as long as needed to prevent major economic ‍disruption to the EU economy.

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