EU countries are preparing to rapidly adopt a law that would allow the indefinite blocking of Russian assets worth 210 billion euros, APA reports, citing "Financial Times."
The goal, according to the report, is to prevent Hungarian Prime Minister Viktor Orbán from vetoing the decision at the upcoming EU summit.
Officials familiar with the plans say that the expedited adoption of this law — which includes emergency powers to bypass national vetoes — aims to preserve Brussels' influence in U.S.-led peace negotiations regarding the war in Ukraine. Diplomats working on the legislation say that separating the contentious issue of asset freezing from the discussions on providing Ukraine with loans backed by Russian assets would be preferable.
It was noted that Hungary and some other EU countries may be dissatisfied with this decision.
Additionally, last week, the European Commission proposed providing Ukraine with an initial 90 billion-euro loan using 210 billion euros of Russian foreign assets. This loan would need to be repaid over the next two years.
According to the report, for this loan scheme to function, the assets must be frozen indefinitely. Currently, assets can only be frozen for six-month periods, and any extension requires unanimous approval from all 27 EU member states.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
