Catenaa, Monday, January 19, 2026- The European Union has indefinitely frozen Russian assets in Europe to prevent Hungary and Slovakia from blocking their use in supporting Ukraine, reports say.
The move is aimed at securing billions for reconstruction and defense.
Using an emergency procedure under EU treaty rules, the bloc immobilized roughly 210 billion euros ($247 billion) in Russian Central Bank holdings until Moscow ends its war in Ukraine and compensates for damages.
Most of the funds, about 193 billion euros ($225 billion), are held at Euroclear in Belgium. The freeze ensures that member states with Moscow-friendly governments cannot veto the continued use of these assets for Ukrainian support.
EU Council President António Costa said the measure fulfills a commitment made in October to keep Russian assets frozen until conditions are met.
Leaders plan to discuss using the funds for a multi-year financial and military support package for Ukraine at a summit on December 18.
Hungary and Slovakia oppose deploying the assets for Ukraine. Hungarian Prime Minister Viktor Orbán called the move a violation of European law, while Slovak Prime Minister Robert Fico warned it could undermine US-backed peace efforts.
Belgium also expressed concern about economic and legal risks tied to a proposed “reparations loan.”
Russia’s Central Bank filed a lawsuit in Moscow against Euroclear for damages and denounced EU plans as illegal and violating sovereign immunity principles.
