EU Ambassadors Begin Written Process for 'Long-Term Freezing' of Russian Assets: Reuters

The European Union is set to reach an agreement as early as tomorrow regarding the long-term freezing of Russian sovereign assets located in Europe, without the need for a six-month extension. This will allow funds generated from these assets to be used for providing loans to Ukraine, ensuring its financing in 2026-2027.

The legal framework is based on Article 122 of the EU Treaty, which allows for decisions to be made by majority voting and eliminates the risk of a veto from Hungary or Slovakia.