BRUSSELS, Dec 12 (KUNA) -- European Union governments on Friday approved an agreement to indefinitely freeze Russian central bank assets held in Europe, removing a major hurdle to the possible future use of these funds to support Ukraine.
Belgium, Bulgaria, Italy and Malta confirmed in a joint statement that they had voted in favor of the EU's plan to freeze the Russian assets, noting that their approval came "in a spirit of cooperation," while stressing that this vote "does not in any circumstances pre-empt the decision on the possible use of the immobilized Russian assets," a decision the four countries said must be taken at the level of EU leaders.
In this context, European Council President Antonio Costa said in a statement on X that EU leaders had committed at the October European Council meeting to keep Russian assets immobilized until Russia ends its war of aggression against Ukraine and compensates Kyiv for the damage caused.
He added that today's decision delivers on that commitment, noting that "the next step is securing Ukraine's financial needs for 2026-27." For her part, European Commission President Ursula von der Leyen welcomed the Council's decision, stating in a post on X that continuing to immobilize Russian sovereign assets sends "a strong signal to Russia that as long as this brutal war of aggression continues, Russia's costs will continue to rise." She added that this is also "a powerful message to Ukraine," stressing the EU's determination to ensure that "our brave neighbor becomes even stronger on the battlefield and at the negotiating table." Meanwhile, EU foreign policy chief Kaja Kallas said in a post on X that the EU's decision to immobilize Russian assets "indefinitely" will ensure that up to 210 billion euros in Russian funds remain on EU soil "unless Russia fully pays reparations to Ukraine for the damage it has caused." She added that the EU "keeps increasing the pressure on Russia until it takes negotiations seriously," stressing that next week's European Council meeting will be crucial to securing Ukraine's financial needs for the coming years. (end) arn.mb