The European Union has taken an unprecedented step in its response to Russia’s ongoing war in Ukraine by agreeing to freeze approximately €210 billion of Russian sovereign funds held across the bloc indefinitely. This move replaces the old system, which required a unanimous renewal of sanctions every six months and risked being overturned by Kremlin-friendly governments like Hungary or Slovakia.
EU leaders say the indefinite immobilisation is necessary to keep the funds locked until Russia ends its war of aggression and pays reparations for the destruction inflicted on Ukraine. By invoking emergency economic powers, Brussels hopes to avoid future vetoes and ...
