The EU has agreed on new rules on frozen Russian assets: what does this mean for Ukraine?

European Union ambassadors have agreed on new rules that simplify the process of preserving frozen Russian assets within the EU. The decision brings closer the possibility of providing Ukraine with a reparations loan from these funds.

This was reported by Radio Liberty journalist Rikard Jozwiak on the social network X.

The point is that the extension of the freeze on Russian assets no longer requires a unanimous decision by all member states. The ambassadors agreed that in future a qualified majority vote in accordance with Article 122 of the Treaty on the Functioning of the EU will be sufficient.

This approach is proposed by the European Commission as a legal basis for measures to help overcome the economic consequences of the war in Ukraine. Previously, any EU member state, including Hungary, could block the decision. The new rules effectively eliminate the possibility of such a veto.

Jozwiak called this decision a “big step” on the way to forming a reparations loan for Ukraine, which could be financed by the proceeds of frozen Russian assets.

It was previously reported that the European Union is considering the possibility of isolating the Belgian government for blocking an initiative to finance Ukraine with frozen Russian assets.

As a reminder,the European Union is preparing an alternative financing scenario for Ukraine in case the leaders fail to agree on using frozen Russian assets to create a reparations loan.