The European Union is on the precipice of a momentous decision on whether to use frozen Russian assets to finance more support for Ukraine, an unprecedented plan that has set up a clash between the many member states that support it and Belgium, where the lion’s share of the assets is held.
EU leaders are due to decide on the measure at a crucial summit scheduled for Thursday and Friday.
But such potential use of the assets is steeped in controversy – critics argue it is legally questionable and risks retaliation by Moscow.
It’s a big moment for Europe, and disagreements surrounding the funding proposal are putting EU divisions on display at a time when the bloc faces increased scrutiny from the United States, which has its own ambitions for the frozen assets.
The EU has committed to financing Ukraine for the next two years either way, so if the contentious proposal doesn’t pass, European governments will need to find the money elsewhere amid growing fatigue with the war and pressure on public finances.
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