The European Union has agreed to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Russia's invasion.

The European Union looked set on Friday to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Moscow's invasion.

The European Union agreed on Friday to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Russia. The EU wants to keep ‌Ukraine financed and fighting as it sees Russia's invasion as a threat to its…

EU plans to indefinitely freeze Russian assets to facilitate a €165 billion loan for Ukraine amid ongoing conflict.

The European Union on Friday indefinitely froze Russia’s assets in Europe to ensure that Hungary and Slovakia, both with Moscow-friendly governments, can’t prevent the billions of euros from being used to support Ukraine. Using a special procedure meant for economic emergencies, the EU blocked the assets until Russia gives up its war on Ukraine and compensates its neighbor for the heavy damage that it has inflicted for almost four years.

The European Union is set to lock up Russia’s assets in Europe until Russia ends its war on Ukraine and compensates for the damage.