Alex Ritson
π€ SpeakerAppearances Over Time
Podcast Appearances
also in this podcast.
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Belgium, where most of Moscow's $245 billion worth of assets, opposes the move.
And Belgium isn't alone.
Italy and Slovakia also expressed their doubts.
Shortly before the meeting began, Hungary's leader Viktor Orban, who's very close to Russia's Vladimir Putin, gave his thoughts on the proposal.
France and Poland led calls to hand the money over to boost Ukrainian resistance.
President Emmanuel Macron of France shared his thoughts as he entered the talks.
Polish Prime Minister Donald Tusk said European leaders had a straightforward decision to make.
Our correspondent James Waterhouse in Brussels explained what's at stake.
At its heart is a proposal to unfreeze tens of billions of euros worth of frozen Russian assets to support Ukraine in the form of a loan.
Kyiv has a gaping hole in its finances over the next couple of years to the tune of 135 billion euros.
Volodymyr Zelensky acknowledges that this proposal is crucial for his country's survival and those in support of it, like Germany, like the European Commission, like the UK, like France, say this is crucial for Ukraine to survive long enough for a lasting peace deal.
But there are growing opposers to this idea, not least with Belgium, where the majority of this Russian money is kept.
There are fears of legal reprisals, which have been promised by Moscow.
So what is clear is that there are going to be some very long, drawn-out negotiations today.
A plan B is being touted that could see Europe support Ukraine through its debt, through widening its debt and incorporating it into its budget.
But that requires unanimous support, which is almost certainly not going to happen.
So this is a crucial juncture if you consider where we are in the peace endeavours to try and end the war in Ukraine.