EU Summit: Frozen Russian Assets for Ukraine Loan Divides Europe

• EU leaders to decide on using €210bn in frozen Russian central bank assets to secure a €90bn loan for Ukraine.
• The proposal aims to address Ukraine's dire financial situation and declining US support, with Europe's credibility at stake.
• Belgium, hosting Euroclear (where most assets are held), opposes the plan due to fears of Russian retaliation, legal risks, and insufficient guarantees.
• Concerns include the plan's legality, potential damage to Europe's reputation as a safe haven for capital, and Russia's strong condemnation.
• An alternative, borrowing from financial markets, requires unanimous EU approval, which is unlikely due to countries like Hungary and Slovakia.

Why It Matters: EU faces critical decision on using frozen Russian assets for Ukraine, fraught with division and risks.