Photo: Getty Images
The European Union has agreed to freeze Russian assets totaling €210 billion indefinitely, ending the previous practice of renewing the freeze every six months.
European Commission President Ursula von der Leyen announced the decision on X and via Reuters, welcoming the EU Council’s approval of the Commission’s proposal.
“We are sending Russia a clear signal: as long as this brutal war of aggression continues, Russia’s costs will only rise. This is a strong signal for Ukraine: we want to ensure our brave neighbor becomes even stronger on the battlefield and at the negotiating table,” von der Leyen said.
Under the new framework, EU governments have agreed to maintain the freeze “for as long as necessary,” removing the risk that countries like Hungary and Slovakia—known for warmer ties with Russia—could block extensions and allow the assets to return to the aggressor.
The indefinite freeze also clears the way for Belgium to potentially support the EU’s plan to use these assets to provide Ukraine with a “reparations credit” of up to €165 billion to cover military and civilian budget needs in 2026–2027.
The EU is expected to finalize the details of this “reparations credit” at a European Council meeting on December 18, resolving outstanding issues, including guarantees for all EU governments that Belgium will not bear the financial risk alone if Moscow successfully challenges the plan.
Reparations credit for Ukraine
The EU is considering using frozen Russian assets to back a “reparations credit” for Ukraine. Belgium, where a large portion of the assets is held at Euroclear, has raised concerns. Belgian Prime Minister Bart De Wever demands that the EU provide safeguards for Euroclear against potential Russian sanctions, ensuring it has the necessary resources to mitigate risks.
