EU to freeze €210bn in Russian assets indefinitely
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The EU has agreed to indefinitely freeze €210 billion in Russian sovereign assets within the bloc. This decision, made using emergency powers, aims to maintain pressure on Russia to end its war in Ukraine and compensate for damages. It removes the previous requirement for six-month sanction renewals, preventing potential vetoes. The move follows Russia's lawsuit against Euroclear, the Brussels-based depository holding the assets, alleging damages from their immobilization. While the EU considers using these assets to aid Ukraine, Belgium has blocked a proposed loan due to concerns about potential Russian lawsuits. Discussions between Belgium and the UK are ongoing to address these complex issues and maintain economic pressure on Russia.
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