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politics1d ago
EU heavyweight Italy joins Belgium in opposing Russian frozen assets plan
- Italy backs Belgium against the EU plan to use Russia's frozen assets to fund Ukraine ahead of a major EU summit.
- Rome seeks alternatives like an EU loan facility to cover Ukraine's needs rather than seizure of assets.
- Belgium fears bearing full repayment if Russia reclaims funds, prompting allied push for Plan B.
- The four countries proposed a 'Plan B' to issue joint EU debt to finance Ukraine over coming years.
- The plan remains contentious, with potential veto risks from Hungary and Slovakia affecting unanimity.
- Italy's government coalition is divided on supporting Ukraine amid sanctions policy debates.
- EU leaders aim to finalize the plan at the December European Council summit.
- The assets are held in Euroclear Bank in Belgium and would potentially be used to support Kyiv’s economy.
- EU law and international law are cited as frameworks for exploring alternatives to asset seizure.
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