The European Union has announced plans to indefinitely freeze Russian assets held within the bloc, in a move aimed at ensuring up to $246 billion in Russian funds remain in EU jurisdictions, officials said on Friday.
EU foreign policy chief Kaja Kallas confirmed the decision on X, stating that the freeze will remain in place unless Russia fully compensates Ukraine for the damages caused by its war of aggression.
European Commission President Ursula von der Leyen described the move as a "strong signal" to Moscow, signalling that the financial costs of the war will continue to rise. European Council President António Costa added that the decision honours commitments made during the October European Council meeting to keep Russian assets immobilised until the conflict ends and reparations are paid.
The bloc plans to use the frozen funds to support Ukraine, with an estimated 90 billion dollars potentially available, either through direct borrowing or via assets held at Euroclear, Belgium’s main depository for frozen Russian funds.
Belgium, however, has expressed concerns over the proposal, citing potential legal challenges, financial liability and warning that moving too quickly could undermine fragile diplomatic channels aimed at ending the conflict. The Belgian government has sought amendments to the EU Commission’s initial plan to mitigate these risks and provide stronger protection for Euroclear.
Russia’s central bank denounced the plan as illegal and warned it may pursue legal action to contest the use of its frozen assets.
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The European Union has announced plans to indefinitely freeze Russian assets held within the bloc, in a move aimed at ensuring up to $246 billion in R...
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Venezuela’s oil shipments have plunged following the United States’ seizure of a tanker earlier this week.
The Kremlin on Friday dismissed proposals for a ceasefire to allow a territorial referendum in Ukraine, describing any pause in hostilities as a tactical ploy rather than a genuine step toward ending the conflict.
A new batch of photographs from Jeffrey Epstein’s estate has been released by the House Oversight Committee, shedding light on the financier’s connections with prominent political, business, and cultural figures.
Sudan is facing a record-breaking internal displacement crisis as fighting between the national army and the paramilitary Rapid Support Forces (RSF) continues, the International Organization for Migration (IOM) reported on Friday.
Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
Kyiv has escalated its naval campaign against Moscow’s economic lifelines, claiming a successful strike on a vessel suspected of skirting international sanctions within the Black Sea.
An extratropical cyclone has caused widespread disruption across Brazil’s São Paulo state, with powerful winds toppling trees and power lines, blocking streets and leaving large parts of the region without electricity.
Türkiye’s Trade Minister Omer Bolat said Friday that discussions in Washington with U.S. officials have strengthened efforts to expand bilateral trade, moving closer to a $100 billion target.
Türkiye’s President Recep Tayyip Erdoğan and Pakistani Prime Minister Shahbaz Sharif held talks on Friday during the International Peace and Trust Forum in Ashgabat, Turkmenistan, focusing on bilateral relations as well as regional and global issues
Hungary has strongly criticised NATO Secretary-General Mark Rutte’s warning that Russia could be capable of attacking the alliance within five years, with Foreign Minister Péter Szijjártó describing the remarks as irresponsible and dangerous.
Thailand and Cambodia have agreed to halt all shooting from Friday evening following renewed fighting along their shared border, U.S. President Donald Trump said on Friday.
China’s Ministry of Commerce announced on Friday that it will introduce a licensing system for steel exports starting in 2026, covering around 300 steel products.
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