The European Commission has resumed work on options to use Russia's frozen assets for Ukraine, after an earlier attempt was blocked by Belgium. With Kyiv facing a $27bn shortfall this year, EU governments are exploring ways to access the €210bn in immobilised Russian central bank assets without risking legal reprisals from Moscow. Sweden led calls to reopen the debate, arguing the money could bridge Ukraine's funding gap.

The EU has provided a €90bn loan, but €12bn disbursed so far may not be enough. One proposal backed by former German defence minister Annegret Kramp-Karrenbauer and EU lawmaker Nathalie Loiseau would transfer Russian accounts at Euroclear into a separate EU vehicle, moving both assets and liabilities while offering Belgium and Euroclear legal indemnity. Officials caution that any solution still requires consensus from all 27 member states, and Belgium's position remains unchanged.

Russia has filed a legal claim against Euroclear, with a Russian court ordering €200bn in damages, though the judgment is not recognised under EU law.