Brussels has identified a mechanism that allows decisions to block Russian assets without the unanimous support of all EU countries.
Source: Bukvy
The new approach makes it possible to freeze assets indefinitely, instead of extending the blocking every six months as is done now. The basis is an article of the EU treaties stipulating that unanimity is not required in cases of economic shocks — which Brussels considers to include Russia’s war against Ukraine.
Previously, there was a risk that one country, particularly Hungary, could block the extension of sanctions, which would lead to the automatic unfreezing of assets.
At the beginning of December, the European Commission approved two options for financing Ukraine for 2026–2027. The first provides a loan guaranteed by the EU budget, and the second — a reparations loan funded by the frozen assets of the Central Bank of the Russian Federation. One of these options must be approved by the EU Council in December.
Overall, the European Commission proposes providing Ukraine with 210 billion euros.
Of these:
140 billion euros may be transferred from the accounts of the Russian Central Bank in Belgium’s Euroclear,
25 billion euros — from accounts in other European countries.
It is planned that:
115 billion euros will be directed to Ukraine’s defense industry,
from the remaining 95 billion euros, Kyiv will repay 45 billion euros in loans from G7 countries issued against future revenues from Russian assets,
and another 50 billion euros will go toward the state’s budgetary needs.
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