The European Union approved on Friday the freezing for an indefinite period of Russian sovereign assets present on its territory, putting an end to the biannual renewal mechanism which required the unanimity of member states.
The announcement was made by the head of European diplomacy, Kaja Kallas, who affirms that the measure will remain in force until Moscow has paid Ukraine full reparations for the destruction caused by its invasion.
210 billion euros of frozen Russian assets
On X, Kaja Kallas reported that up to €210 billion of Russian sovereign assets will remain tied up in the EU. This regime change avoids the threat of a veto from Hungary or other pro-Russian states at each renewal. According to the diplomat, this decision should increase pressure on the Kremlin until Russia “takes the negotiations seriously” and agrees to answer for the damage inflicted on Ukraine.
A European Council scheduled for next week will also have to specify the means of financing European support for kyiv for the years to come.
The French Minister of Foreign Affairs, Jean-Noël Barrot, reacted by emphasizing that the EU is regaining full control over the fate of Russian funds placed in Europe. In a message published on
Budapest denounces “illegal” decision
Ahead of the official European announcement, the Hungarian Prime Minister, Viktor Orban, had anticipated the decision and castigated an “illegal” vote. In a message published on Facebook, he accuses Brussels of placing itself “above the rules” and believes that this measure will cause “irreparable damage” for the Union. Hungary, regularly accused of aligning with Moscow, has long opposed the reinforced sanctions mechanism.
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