EU freezes Russian assets indefinitely until Moscow pays reparations to Ukraine

The European Union has decided to freeze Russian assets indefinitely, EU High Representative Kaja Kallas announced on Friday.

Under the decision, up to €210 billion in Russian state assets will remain immobilised within EU jurisdictions until Russia fully compensates Ukraine for the damage caused by its invasion.

“We will continue increasing pressure on Russia until it takes negotiations seriously,” Kallas wrote on social media.

According to the EU’s top diplomat, the upcoming European Council session scheduled for next week will be “crucial” for securing Ukraine’s long-term financial needs.