EU freezes $245 billion Russian assets indefinitely, eyes big loan for Ukraine amid lawsuit threat

The European Union has agreed to indefinitely freeze Russian central bank assets worth around 245 billion dollars, moving closer to securing a long-term financial lifeline for Ukraine amid the ongoing war.

The decision removes the need for renewals of sanctions every six months that risked vetoes from Kremlin-friendly member states and follows Russia’s central bank filing a lawsuit against Belgium-based Euroclear, which holds most of the frozen funds.

EU leaders are exploring a complex loan scheme using the assets as collateral to support Kyiv, even as legal risks and opposition from some member states persist. The issue is set to feature prominently at next week’s EU summit.