EU Postpones Decision on Frozen Russian Assets

EU leaders pledged to address Ukraine's urgent financing needs for 2026–2027, including military support, and asked the European Commission to present options, but they stopped short of endorsing a proposed €140 billion “reparation loan” funded by frozen Russian assets after objections from Belgium. Belgian Prime Minister Bart De Wever, noting the assets are held by depository Euroclear, demanded concrete legal guarantees to avoid litigation and financial risk, and leaders postponed a final decision to the next summit in December. Summit text removed language calling for the Commission to present concrete proposals on the gradual use of immobilised Russian cash balances. Russia's Deputy Finance Minister Alexei Moiseev said Moscow has no current plans to seize European assets but would reconsider if the EU moved to confiscate frozen Russian sovereign assets, estimated at up to $250 billion. Russian officials also said a recent decree accelerating privatization of state assets is not aimed at seizing European assets.