Russian assets will be blocked until the end of the war in Ukraine: European Council
The assets of the Russian Federation will remain frozen until it ceases its aggression against Ukraine. This decision was announced in conclusions of the summit of the European Council, which took place on October 17 in Brussels. European leaders emphasized that the blocking of assets will continue until the complete cessation of hostilities on the part of the Russian Federation and the payment of compensation for the damage caused.
According to the resolution, Russian assets will remain under sanctions under EU law until the Kremlin stops its war against Ukraine. In addition, the Russian Federation is obliged to compensate for the damages caused by its aggressive actions.
The document also mentions the importance of fulfilling the commitments made at the G7 summit in Puglia. European partners, together with other states, plan to allocate about 45 billion euros by the end of the year to cover both current and future needs of Ukraine, in particular for its reconstruction. The Eurocouncil called on the European Commission and the high representative of the EU to closely cooperate with Ukraine on the implementation of these obligations.
The European Union has also confirmed its readiness to increase pressure on Russia by introducing new sanctions that will limit its ability to wage war. The resolution clearly states that the EU is ready to continue limiting the economic and military power of the Russian Federation, in particular through new sanctions.
The summit also again condemned Russia’s actions aimed at destroying Ukraine’s critical energy and civil infrastructure. The leaders of the EU countries expressed their particular concern about the shelling of port infrastructure and attacks on commercial vessels, which are important for the Ukrainian economy. In response to these actions, the EU called for an immediate increase in military aid to Ukraine, including the supply of air defense systems, ammunition and missiles.
