EU Freezes Russian Assets to Prevent Hungary and Slovakia from Blocking Ukraine Aid
The European Union has indefinitely frozen Russian assets within Europe, a move aimed at preventing Hungary and Slovakia from obstructing the use of these funds to support Ukraine. This decision, announced by EU Council President Antonio Costa, is part of a broader strategy to ensure that Russian assets remain immobilized until Russia ceases its military aggression against Ukraine and compensates for the damages caused. The assets, estimated to be around 210 billion euros, are primarily held in Euroclear, a Belgian financial clearing house. The EU's action is designed to facilitate the use of these funds to underwrite a significant loan to aid Ukraine's financial and military needs over the next two years. This decision comes amidst opposition from Hungary and Slovakia, who have been resistant to further supporting Ukraine. The EU's move is based on treaty rules that allow the bloc to protect its economic interests in emergency situations. 
