The European Union plans to use frozen Russian assets, worth around €210 billion (about $247 billion), to fund Ukraine through reparation loans.

Most EU member states voted to keep these assets frozen indefinitely, with 25 out of 27 countries supporting the ban on returning funds to Russia. The proposal would provide Ukraine with €90 billion over two years, repayable only if Russia pays equivalent reparations for war damages.

This move aims to finance Ukraine’s defense and economic stability without taking money directly from EU taxpayers and attempts to send a signal of accountability to Russia. However, Belgium seeks guarantees to cover risks, as its financial services provider, Euroclear, manages a large share of the frozen assets.

Meanwhile, Russia’s central bank has filed a lawsuit against Euroclear, escalating tensions over the EU's decision.