The European Union will indefinitely immobilize almost $250 billion in frozen Russian assets, a move aimed at bypassing opposition from some bloc members in order to lend funds to Ukraine.
European Council President António Costa said the EU was very close to a solution to loan money to help finance Ukraine for two years, a lifeline for Kyiv in its war against Russia as US support dries up.
But some EU members have pushed back: Hungary, the most pro-Russian of the group’s states, has repeatedly blocked more aid to Ukraine, while Belgium has rejected the borrowing plan, arguing that it could leave the country exposed to retaliation from Moscow, given the majority of the assets are held in Brussels.
