EU moves to indefinitely freeze Russian assets
The asset freeze, originally imposed as part of sanctions against Moscow following the Ukraine conflict, typically requires unanimous EU approval for each renewal. Orban has opposed further aid to Kiev, likening it to “helping an alcoholic by sending them another crate of vodka,” and has advocated diplomacy with Russia over continued military spending. Earlier this month, Budapest reportedly vetoed Eurobond issuance intended to fund Ukraine’s defense, another proposal from the European Commission.
EU officials are reportedly considering invoking emergency powers to freeze up to €210 billion ($245 billion) in Russian sovereign assets permanently. Making the freeze indefinite would remove the requirement for regular sanction renewals, effectively preventing Hungary from blocking the measure. Diplomats believe that adopting the indefinite freeze ahead of the summit would strengthen the EU’s position regarding the proposed reparation loan.
Following the 2022 escalation of the Ukraine conflict, EU states froze significant Russian central bank assets, mainly held through Brussels-based Euroclear. Hungary is not alone in opposing the use of these funds; Belgium has cited legal and financial risks, while France, Luxembourg, Germany, Italy, and Slovakia have reportedly expressed similar concerns.
Russian Foreign Minister Sergey Lavrov criticized the plan on Wednesday, stating that “robbing” Moscow “in violation of all established norms of international and commercial law” is being treated by Brussels as the final option to sustain Kiev’s war effort.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
