Russian Assets Will Remain Frozen: EU

European leaders have announced that Russian sovereign assets in the EU will remain frozen as long as the Ukrainian conflict continues and compensation for the damages has not been paid, according to the conclusions of the EU summit in Brussels.

"In accordance with European legislation, Russian assets will remain immobilized until the end of Russian aggression against Ukraine and the compensation for the damages incurred," the document states.

Earlier this week, Western media reported that the EU is exploring the potential seizure of frozen assets from the Central Bank of Russia and the implications of using them by Kyiv.

It is believed that the EU's foreign affairs agency and certain member states are reviewing whether new legal frameworks will be required to facilitate the seizure of frozen assets, with some countries considering the potential impact on the euro.