According to the Financial Times, official Brussels intends to urgently adopt a law on the indefinite blocking of Russian assets worth 210 billion euros. This step will allow to avoid a veto by Hungarian Prime Minister Viktor Orban.
Points of attention
- The urgency in separating the freezing of assets from the discussion on providing Ukraine with a 140 billion euro loan is crucial for the EU's lending scheme to proceed smoothly.
- The move to indefinitely freeze assets aims to safeguard the EU's position in peace talks amidst fears of potential actions by Putin's ally and implications of US sanctions decisions.
The EU wants to outwit Orban
According to anonymous sources, the new solution is planned to be implemented urgently.
First of all, it concerns the adoption of legislation that provides for the use of emergency powers to overcome the national veto on the extension of sanctions.
This will make it possible to protect the influence of the European Union in peace negotiations to end the Russian-Ukrainian war.
Official Brussels fears that the US will exclude EU members from this process.
Currently, the European Union is determined to quickly separate the controversial issue of freezing assets from the discussion of providing Ukraine with a 140 billion euro loan.
For the lending scheme to work, assets must be frozen indefinitely, not for six-month periods that can only be extended with the unanimous consent of all 27 EU countries.
Hungarian leader Viktor Orban, who is a pro-Russian politician, previously threatened to block any new aid to Ukraine, as well as to veto the extension of sanctions on Russia.
Official Brussels fears that Putin's ally will carry out his threat if Donald Trump's team decides to unilaterally lift American sanctions against Russia.
