EU delays decision on seizing Russian assets until December
European Commission (Photo: REUTERS/Yves Herman)
The European Union has delayed until December 2025 a decision on whether to seize EUR140 billion ($162 billion) in frozen Russian sovereign assets held by Belgium’s Euroclear clearing house, Bloomberg reported on Oct. 23.
Sources told the journalists that Belgium pressed for the postponement after demanding stronger guarantees that it would not bear liability for legal risks tied to issuing loans to Kyiv backed by those frozen assets.
EU leaders have asked the European Commission to prepare a range of options for dealing with the issue ahead of the next summit, with the goal of reaching a final agreement by year-end, according to the sources.
On Oct. 22, Bloomberg wrote that with the “evaporated” U.S. aid to Ukraine, European leaders were becoming more determined to tap into frozen Russian assets. Brussels is weighing whether to use those assets directly to extend roughly EUR140 billion in new loans to Kyiv.
“Russia cannot repatriate or use the funds,” the article said.
“But neither can EU nations unwind its legal ownership of the assets. So the G7 and EU moves have been designed to make use of the money without actually removing it from Euroclear.”
Earlier on Oct. 23, Ukrainian President Volodymyr Zelenskyy said the EU had made a commitment to fund Ukraine through 2027 using the assets of Russia’s Central Bank.
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