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BBC News (13 December 2025)

Paul Kirby

European Union governments have agreed to immobilise indefinitely Russian assets of up to €210bn (£185bn) that have been frozen in the EU since the start of Russia's full-scale invasion of Ukraine.

Most of Moscow's cash is held in Belgian bank Euroclear, and European leaders are hoping to agree a deal at next week's crunch EU summit that would use the money for a loan to help Kyiv fund its military and economy.

After almost four years of Russia's full-scale war Ukraine is running out of cash, and needs an estimated €135.7bn (£119bn; $159bn) over the next two years.

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