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How is the EU planning to unlock Russian assets for Ukraine?
The EU aims to use frozen Russian assets, particularly those held in Belgium, to fund Ukraine’s reconstruction and defense. A legal proposal is being developed to address existing legal and political obstacles, with plans to include legal workarounds and guarantees. The goal is to access these assets without violating international laws or risking legal liabilities.
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What legal and political challenges are involved?
Legal hurdles include potential lawsuits and concerns over the legality of seizing or reallocating frozen assets. Politically, some EU countries, like Belgium and Hungary, are cautious about supporting the plan due to fears of legal liabilities or upsetting diplomatic relations. Achieving consensus among member states remains a significant challenge.
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What could this mean for Ukraine's reconstruction?
Unlocking these assets could provide Ukraine with substantial funding for rebuilding infrastructure, supporting its military, and stabilizing its economy. If successful, it could accelerate Ukraine’s recovery and strengthen its resilience against ongoing conflicts.
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How does this fit into broader EU-Russia relations?
This effort reflects the EU’s stance against Russia’s actions and its support for Ukraine. It also signals a strategic move to hold Russia accountable by targeting its financial assets. However, it complicates diplomatic relations, especially with countries like Hungary that may oppose the plan, potentially affecting broader EU-Russia dynamics.
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What are the next steps in the EU’s plan?
The EU is scheduled to hold a key meeting on December 18 to discuss the legal proposal and address opposition from member states. The focus will be on finding legal guarantees and political support to move forward with unlocking the assets and supporting Ukraine’s needs.
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Could Belgium or other countries block the plan?
Yes, Belgium has expressed caution due to concerns over legal liabilities and the risk of funds being released back to Russia. Hungary’s potential opposition could also pose a significant obstacle. The EU is working on legal workarounds and diplomatic efforts to overcome these hurdles.