EU Faces Crucial Vote on Using Frozen Russian Assets for Ukraine War Funding

• EU leaders to decide on using €210bn frozen Russian central bank assets, mostly at Euroclear, to fund Ukraine's war.
• Proposed plan involves EU borrowing €90bn from Euroclear for Ukraine, with Russia remaining legal owner of assets.
• Ukraine faces urgent funding needs (€136bn for 2026-27) amid halted US aid and stagnant European economies.
• Russia warns against "theft," threatening retaliation and legal action; Belgium also expresses strong reservations.
• Failure to agree could severely damage EU's credibility and ability to act, with an alternative plan B proposed.

Why It Matters: EU faces a pivotal decision on using frozen Russian assets to fund Ukraine, with high stakes and risks.