EU FACES TOUGH DECISION TO LEND UKRAINE FROZEN RUSSIAN FUNDS

EUROPEAN Union leaders are gathering at a summit in Brussels, where an important choice will be made about whether to provide Ukraine with hundreds of billions of euros from frozen Russian assets to support its military and economic efforts.

Ukrinform/NurPhoto

Around €210 billion in Russian funds are currently held by Euroclear, a company based in Belgium.

So far, Belgium and some other EU countries have said they don't agree with using these funds.

If no extra money is approved, Ukraine's current funds are likely to run out within a few months.

A European government official expressed cautious hope, but not too much, that a deal could be made.

Russia has warned the EU against using these funds and has taken legal action against Euroclear in a Moscow court to get its money back.

This summit is happening at a key moment in the war, and attention is focused on Belgian Prime Minister Bart De Wever, who told the Belgian parliament that he hasn't seen any information that would make him change Belgium's position.

Meanwhile, US President Donald Trump has claimed that an agreement to end the war, which began with Russia's full-scale invasion of Ukraine in February 2022, is closer than ever.

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