European leaders negotiate using up to €2.1bn of frozen Russian assets to fund Ukraine

EU leaders in Brussels negotiated long into the night about whether to utilise up to 210 billion euros of frozen Russian assets to fund Ukraine.

Talks focused on the need for the EU to reassure Belgium that it wouldn’t be left to carry the burden of releasing 185 billion euros – the bulk of the frozen assets – if Russia successfully sued the state, or Euroclear the financial repository in which they are currently held.