EU TROUBLE OVER FROZEN RUSSIAN ASSETS – Hungary’s Orban calls using Russian frozen assets for Ukraine a ‘crazy idea’
Hungary’s prime minister Viktor Orban called using Russian frozen assets to finance Ukraine a ‘crazy idea’ on Wednesday, December 17th, as he arrived at the EU far-right leaders’ meeting in Brussels.
EU leaders will discuss how to finance Ukraine with frozen Russian assets at an EU summit on Thursday, December 18th, when they are expected to take some key decisions including on guarantees for Belgium, where most of the assets are held.
There are some 210 billion euros of such assets in the EU, of which 185 billion are in Belgium, 18 billion in France, and smaller amounts in Luxembourg, Germany and Sweden.
The original plan to use the Russian cash for Ukraine in 2026 and 2027 involved only the Belgian central securities depository Euroclear, where they are held.
Orban also said that using these assets would have “tremendously bad impacts” on the Belgian Euroclear company.
French Conservative leader Marine Le Pen said on Wednesday that the EU had tried to “twist the arm” of a number of countries regarding the use of Russian frozen assets.
