EU Leaders Weigh Massive Ukraine Loan; Belgium Demands Protection from Russia

• EU leaders are debating a massive loan for Ukraine, potentially using tens of billions in frozen Russian assets.
• Belgium, where most frozen assets (193 billion euros) are held by Euroclear, demands "ironclad guarantees" against Russian retaliation.
• Russia's Central Bank sued Euroclear, increasing pressure on Belgium and the EU ahead of the summit.
• The proposed "reparations loan" of 90 billion euros for Ukraine faces opposition from Hungary and Slovakia, with Bulgaria, Italy, and Malta undecided.
• Ukraine urgently needs 137 billion euros by spring to avoid bankruptcy; EU leaders are committed to finding a solution.

Why It Matters: EU leaders debate a crucial Ukraine loan using frozen Russian assets, but Belgium demands protection from retaliation.