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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Democrat Zohran Mamdani officially took office as New York City’s mayor on Thursday, beginning his term with a public swearing-in ceremony on the steps of City Hall.
Russia and Ukraine have accused each other of targeting civilians during New Year attacks, as intensified fighting coincided with U.S.-led efforts to push both sides towards ending the nearly four-year war.
Dozens of people are feared dead and around 100 others injured after an explosion tore through a crowded bar during New Year’s Eve celebrations at the Swiss ski resort of Crans-Montana, authorities said.
At least 47 people were killed and 112 injured after a fire broke out at a crowded bar in the Swiss ski resort town of Crans-Montana during New Year’s Eve celebrations, Italian Foreign Minister Antonio Tajani told Italian media on Thursday.
India has approved a major arms deal with Israel valued at approximately $8.7 billion, highlighting the deepening defence partnership between the two countries.
India and Pakistan on Thursday exchanged lists of nuclear facilities as well as civilian prisoners, under long-standing bilateral agreements, according to official statements from both countries.
Chelsea Football Club have parted ways with manager Enzo Maresca, after the London side have won just one of their last seven English Premier League games.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 2nd of January, covering the latest developments you need to know.
Venezuela’s government has released 88 more people detained after protests following last year’s presidential election, the second mass release in two weeks, as pressure mounts from the United States on President Nicolás Maduro.
France’s postal and banking services were disrupted on Thursday morning after a cyberattack temporarily rendered their websites and mobile applications largely inaccessible, French radio RFI reported.
India and Pakistan on Thursday exchanged lists of nuclear facilities as well as civilian prisoners, under long-standing bilateral agreements, according to official statements from both countries.
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