Until now, Russian assets have been frozen under sanctions that require six-month extension by all member states. Introducing the ban permanently introduces great certainty regarding the future of these deposits – they can be unfreezed after the regulation is amended.
The countries' consent to the permanent freezing of Russian assets does not determine whether a reparations loan will be granted to Ukraine, financed with this money. However, the decision is perceived as a significant breakthrough, bringing the EU closer to making such a decision.
Earlier, the United States lobbied several European Union countries in an attempt to block EU plans to use frozen assets of Russia's central bank to secure a huge loan for Ukraine, Bloomberg reported, citing European diplomats familiar with the matter.
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Which countries were against the EU's decision to freeze Russian assets?
What does the permanent freeze of Russian assets mean?
Does the EU decision affect the loan to Ukraine?
What were Viktor Orban's reactions to this decision?
The EU does not want to extend sanctions every six months. Victor Orban thunders
On Thursday, EU countries managed to reach an agreement to freeze Russian assets permanently, without having to make decisions on this issue every six months, with the consent of all capitals. The solution was adopted by a clear majority of Member States.
“Brussels people are crossing the Rubicon, the Brussels dictatorship has arrived. Hungary is protesting against this decision and will do everything in its power to restore legal order,” Hungarian Prime Minister Viktor Orban wrote on Facebook on Friday.
In the opinion of the head of government in Budapest, changing decision-making regarding Russian assets is “the end of the rule of law in the European Union.” “European leaders are putting themselves above the rules. Instead of ensuring compliance with EU treaties, the European Commission is systematically violating European law. It is doing this to continue the war in Ukraine, a war that is clearly unwinnable,” he said.
