European summit in Brussels
The EU bloc is considering new financial support for Ukraine.
Leyla Cheamil, 24.10.2025, 14:00
The leaders of the EU member states met in Brussels, within the European Council, where they discussed the competitiveness of the European economy, digitalization, the unification of the capital market, as well as about the common defense projects, with a focus on the eastern flank. The leaders also asked the European Commission to explore, by the next meeting in December, the ways of financing Ukraine in the next two years, leaving open the possibility of establishing a loan based on frozen Russian assets. The assets of the Central Bank of Russia in the European Union were frozen as a result of the sanctions imposed by the West after Russia invaded Ukraine in February 2022. They amount to approximately 210 billion Euros. The direct confiscation of these assets is a red line for EU countries, but the Commission proposes, based on them, to finance a loan of 140 billion Euros for Kyiv.
According to a diplomat, several other countries have expressed reservations about the proposal. The French President Emmanuel Macron said the solution raises legal and risk-sharing issues. He also stressed that it remained the most promising way to financially help Ukraine in the years to come. ‘Russia must remember this: Ukraine will have the financial resources it needs to defend itself against Russian aggression,’ said Antonio Costa, the president of the European Council. The Ukrainian President Volodymyr Zelensky, who was in Brussels for part of the talks, urged leaders to take decisive action on the assets of the Russian central bank. He hailed what he called the “good results” of the summit, saying that he had obtained “political support” on the issue.
In Brussels, the European officials also targeted the Russian oil sector, announcing a new round of sanctions against Moscow on Wednesday evening, the 19th since February 2022. This includes a complete halt to imports of Russian liquefied natural gas (LNG) by the end of next year and additional measures against the ghost fleet of oil tankers that Moscow uses to avoid Western sanctions. The EU also decided to restrict the movement of Russian diplomats between the bloc’s countries and punished 45 new companies that help Russia evade sanctions, including 12 from China, three from India and two from Thailand.
Attending the European Council meeting in Brussels, President Nicușor Dan declared that Romania acted in solidarity with EU countries regarding the sanctions against Russia. ‘Bucharest joined the sanctions packages and I believe that, in the near future, we will do the same. Every time you discuss sanctions, you also discuss the collateral effects that these sanctions have on parts of your industry or the partner industry,’ President Nicușor Dan pointed out. (LS)
