Belgian opposition derails proposal to use Russian assets to fund €140bn loan to Ukraine for its war effort
EU leaders have swerved a decision on using Russia’s frozen assets to fund Ukraine’s defence, despite a plea from Volodymyr Zelenskyy to take swift action to make Moscow pay for its war.
Hopes of agreeing a new way of funding Ukraine’s war effort were dashed after opposition from Belgium, which hosts most of the Russian central bank funds immobilised in the EU at the Brussels-based institution Euroclear.