"European Union leaders are gathering for a Brussels summit where a momentous decision will be taken on whether to loan Ukraine tens of billions of euros in frozen Russian assets to fund its military and economic needs. Most of Russia's 210bn (185bn; $245bn) worth of assets in the EU are held by Belgium-based organisation Euroclear, and so far Belgium and some other members of the bloc have said they are opposed to using the cash."
"Without a boost in funding, Ukraine's finances are set to run dry in a matter of months. One European government official described being "cautiously optimistic, not overly optimistic" that a deal would be agreed. Russia has warned the EU against using its money. It has filed a lawsuit against Euroclear in a Moscow court in a bid to get its money back."
"The Brussels summit comes at a pivotal moment in the war and and all eyes are on Belgian Prime Minister Bart De Wever, who told the Belgian parliament on Thursday: "I haven't yet seen any text that would persuade me to change Belgium's position". US President Donald Trump has said a deal is closer than ever to end the war - which began with Russia's full-scale invasion of Ukraine in February 2022."
European Union leaders are meeting in Brussels to decide whether to lend Ukraine tens of billions of euros from frozen Russian assets to support military and economic needs. Around €210bn of Russian assets in the EU are largely held by Belgium-based Euroclear, and Belgium and some member states oppose using those funds. Ukraine risks running out of money within months without new financing. Russia has warned the EU and filed a lawsuit against Euroclear in Moscow seeking the return of assets. Belgian Prime Minister Bart De Wever remains unpersuaded. US and Russian officials plan talks in Miami while Ukrainian officials travel to the United States.
Read at www.bbc.com
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