EU Leaders Debate Use of Frozen Russian Assets for Ukraine Aid

European Union leaders convened on Thursday, resolving to address Ukraine's financial necessities for the ensuing two years. Despite the solidarity, they refrained from endorsing a contentious plan involving the utilization of frozen Russian assets to fund Ukraine's needs, primarily due to legal concerns highlighted by Belgium.

The Belgiam-based financial institution, Euroclear, possesses the assets which many EU member states had hoped to employ for a €140 billion ($163.27 billion) aid package to Ukraine. However, Belgium's need for legal guarantees prevented immediate progress, leading leaders to seek further options for financial support by December.

Ukrainian President Volodymyr Zelenskiy urged the EU for swift action, emphasizing emergencies such as air defense and critical military positions. Meanwhile, Belgium insists on shared risk among EU nations and legal clarity over the plan's execution. Discussions continue as EU officials remain optimistic about resolving technical issues.