EU Leaders Face Crunch Decision on Loaning Frozen Russian Assets to Ukraine. European Union leaders gathered in Brussels to decide whether to loan Ukraine tens of billions of euros held in frozen Russian assets to support its military and economy. Around €210bn of Russian assets were frozen in the EU, most of them held by Belgium-based Euroclear, with Belgium and several other states expressing strong reservations. Officials warned that without additional funding, Ukraine’s finances were expected to run dry within months, making the summit a pivotal moment in the war. The European Commission proposed loaning Kyiv about €90bn over two years, using frozen Russian assets rather than transferring ownership outright. Belgian Prime Minister Bart De Wever said he remained unconvinced, while Russia warned of retaliation and pursued legal action against Euroclear in Moscow. Germany’s Chancellor Friedrich Merz strongly backed using the assets, arguing it would send a clear signal to Moscow that continuing the war was futile. Opposition from Hungary, Slovakia and other member states complicated the decision, as any agreement required broad support among EU countries-