EU governments have reached an agreement to freeze the Russian Central Bank’s European assets indefinitely

On December 12, local time, the Danish EU rotating presidency announced thatEU governments agree to indefinitely freeze Russian central bank assets in Europe. Belgium, Bulgaria, Malta and Italy issued a joint statement stating that they voted in favor of a long-term freeze on Russian assets during the EU procedure on the 12th.But the decision on whether to use Russia's frozen assets to aid Ukraine needs to be made at an EU summit.

Russia said that day that it had sued the European Bank for Settlements in Moscow, accusing it of freezing Russian assets.

European Council President Costa said that EU leaders have fulfilled their commitment to freeze Russian assets and will next resolve the issue of ensuring Ukraine's financial needs from 2026 to 2027 at the EU summit.

European Commission President von der Leyen said she welcomed the EU Council’s decision on the proposal to freeze Russia’s sovereign assets indefinitely.