European Leaders Stress Legal Review of Russian Frozen Assets for Ukraine Aid

The European Union is considering using frozen Russian assets, estimated around €185-210 billion, to support Ukraine through loans or guarantees, amid declining U.S. aid and tightening EU budgets. Italian Prime Minister Giorgia Meloni and Belgian Prime Minister Bart De Wever emphasize the necessity of adhering to international law and securing legal guarantees before repurposing these funds, highlighting concerns about financial stability and legal precedents. Belgium, hosting most of the frozen assets due to Euroclear, insists on protections to avoid unilateral liabilities if Moscow demands repayment. The European Commission advocates using profits generated from the assets rather than the assets themselves to comply with legal constraints. The Kremlin condemns these plans, labeling them theft and promising retaliation. EU leaders face a complex balancing act between moral support for Ukraine and respecting international legal frameworks, with potential decisions possibly delayed until 2026.