Russian assets in Europe remain frozen: EU decision

The European Union has decided to freeze the assets of the Russian Central Bank stored in Europe for an indefinite period.

Reuters reports this.

This decision removes one of the key obstacles to the continued use of Russian funds to assist Ukraine.

These are assets of the Russian Central Bank that have been under the control of European financial institutions since the beginning of Russia’s full-scale invasion of Ukraine. The freeze, with no end date, means that these resources will remain inaccessible to Moscow.

According to the agency, this EU step also creates legal and political preconditions for further decisions on the possible allocation of frozen funds or proceeds from them to support Ukraine.

It was previously reported that British banks opposed the transfer of frozen Russian assets worth over 8 billion pounds sterling (about 10.6 billion dollars) to Ukraine.

As a reminder, the European Union is considering the possibility of isolating the Belgian government for blocking the initiative to finance Ukraine with frozen Russian assets.

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