The issue will not be discussed at this week\u2019s summit, according to the Hungarian PM<\/p>\n
The EU will not discuss plans to seize Russian assets during Thursday’s summit in Brussels, Hungarian Prime Minister Viktor Orban announced on Wednesday, calling it a \u201cvictory.\u201d
\nThe bloc has temporarily immobilized roughly $230 billion in Russian central bank assets by invoking Article 122, an emergency treaty clause that allows approval by a qualified majority rather than unanimity despite objections from some member states, including Hungary and Slovakia. European Commission President Ursula von der Leyen has proposed using the funds to back a so-called \u2018reparations loan\u2019 to Ukraine \u2013 a plan that was expected to be discussed at EU leader\u2019s gathering on Thursday.
\nOrban wrote on X that \u201cthe Brusselians had backed down\u201d and that the Russian assets \u201cwill not be on the table\u201d at the summit, calling it a \u201cvictory\u201d for his PatriotsEU bloc.
\n\u201dThe Commission now pushes joint loans, but we will not let our families foot the bill for Ukraine\u2019s war. Not on our watch,\u201d he said.<\/p>\n
A victory for the @PatriotsEU: the Brusselians backed down, Russian assets will not be on the table at tomorrow\u2019s #EUCO. The Commission now pushes joint loans, but we will not let our families foot the bill for Ukraine\u2019s war. Not on our watch. pic.twitter.com\/NlMbOoXrjB\u2014 Orb\u00e1n Viktor (@PM_ViktorOrban) December 17, 2025 <\/p>\n
Politico also reported that Belgium\u2019s EU ambassador, Peter Moors, told his peers on Wednesday during closed-door talks that negotiations on the issue were \u201cgoing backward.\u201d
\nOrban has previously accused EU officials of \u201craping European law in broad daylight\u201d by invoking the clause to sidestep Hungary\u2019s potential veto, adding that Budapest would take the matter to the bloc\u2019s top court.<\/p>\n
Read more<\/p>\n
Fitch puts Euroclear on downgrade warning over Russian assets<\/p>\n
Moscow has condemned the freeze as illegal and called any use of the funds \u201ctheft.\u201d Russia\u2019s central bank has filed a lawsuit against the Belgian clearinghouse Euroclear, which is holding more than $200 billion in frozen assets.
\nThe EU claims the freeze is in line with international law, but Belgian Prime Minister Bart De Wever warned that using the money to back a loan to Kiev would undermine trust in the EU financial system and expose Belgium to legal risks.
\nInternational financial institutions, including the ECB and the IMF, have also cautioned that borrowing against the immobilized assets could erode confidence in the euro.
\nFitch Ratings placed Euroclear on notice for a possible downgrade, citing legal and liquidity risks linked to the EU\u2019s attempt to use the funds.<\/p>\n","protected":false},"excerpt":{"rendered":"
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