EU foreign ministers fail to agree on using frozen Russian assets

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EU foreign ministers fail to agree on using frozen Russian assets

2025-12-16 09:19 Last Updated At：12-17 14:42

European Union foreign ministers on Monday ended their final Foreign Affairs Council of the year without agreeing on whether to tap frozen Russian assets to provide loans to Ukraine, leaving the issue unresolved ahead of the upcoming discussion at the December European Council later this week.

Meeting at EU headquarters in Brussels, Belgium, EU foreign ministers focused on the Russia-Ukraine conflict and the situation in the Middle East.

Public opinion widely holds that the European Union is at a critical geopolitical crossroads at the moment, as leaders this week prepare to take key decisions on the Ukraine peace process and financing for Ukraine.

Central to the discussion is whether to use frozen Russian assets held in Belgium to provide financial support, a proposal that has exposed sharp divisions within the bloc.

Italy, Malta and Bulgaria voiced explicit opposition, while Hungary and Slovakia rejected the plan outright. Hungarian Foreign Minister Peter Szijjarto said the EU's plan to use frozen Russian assets would amount to an act of war provocation, warning it would prolong the conflict in Ukraine, risk further escalation and run counter to Hungary's national interests.

New Czech Prime Minister Andrej Babis said that his country is unwilling to shoulder financial risks linked to Belgium, where most of the assets are concentrated.

As ministers met in Brussels, European leaders gathered in Berlin for talks with Ukrainian President Volodymyr Zelenskyy, German Chancellor Friedrich Merz, French President Emmanuel Macron, British Prime Minister Keir Starmer and others. NATO Secretary General Mark Rutte also attended the talks.

EU officials hope to assert greater influence over peace efforts, after a U.S.-proposed plan drew criticism within the bloc.

Analysts say doubts about the reliability of the United States as a security partner are pushing Europe to consider more strategic autonomy, even as rising defense costs strain national budgets.

According to Russian media reports, Russia's central bank filed a lawsuit in Moscow, seeking more than 18 trillion rubles in damages from Europe's largest securities depository Euroclear, which holds a large amount of Russia’s frozen assets.

EU leaders are expected to revisit the issue at their meeting on Thursday, where proposals to use Russian frozen assets as collateral for "compensation loans" aimed at covering Ukraine's fiscal and military needs over the next two years.

Russian Foreign Ministry spokeswoman Maria Zakharova said any disposal of sovereign assets without Russia's consent would be absolutely illegal and a grave violation of international law.

Thai coconut exporter taps CIIE to promote industry innovation

Thai exporters are leveraging this year's China International Import Expo (CIIE) to seek new opportunities in China as innovation and shifting consumer demand reshape how Thailand's traditional agricultural products are grown, produced and brought to market.

For generations, families in Thailand have made a living from coconut palms, harvesting the fruit by hand and shipping it far beyond the orchards where it is grown.

Natthasak Manusrungsri's family has been exporting aromatic coconuts for more than two decades. But growing demand from China has transformed the scale of their business, driving production, expanding exports and inspiring new ways to bring this familiar fruit to consumers.

"Almost every factory that packs fresh coconuts depends on China as its main market, almost entirely. After Thailand received permission to export coconuts to China, volumes kept rising, driven by trends and by customers becoming more knowledgeable and health-conscious," said Natthasak Manusrungsri, managing director of K-Fresh Co.

But as demand grows, so does the pressure to innovate. Generations of agricultural knowledge are meeting a new generation of ideas.

For Thai producers, China offers enormous opportunities, but competition is intensifying. As consumer preferences change, exporters are shifting their focus beyond simply increasing sales to developing innovative products that offer greater convenience and bring more value to an increasingly competitive industry.

That transformation begins long before the coconuts leave the trees. Across a network of plantations, precision agriculture is helping farmers monitor growing conditions, identify problem areas, and improve yields, while maintaining the quality of Thailand's renowned coconuts.

Inside the factory, innovation takes a different form. Even the simple act of opening a coconut has been redesigned. A patented mechanism allows consumers to open it with a push.

"Innovation matters for both the farm and production, so we can deliver the highest quality to our customers. So, we practice precision agriculture. And in the factory, we focus on innovation to make it easier for consumers to open and enjoy, bringing quality products to consumers around the world and in China," said Manusrungsri.

For the farmers who tend these palms, the rhythm of life remains much as it has for generations. But beyond the orchards, almost everything else is changing.

And at CIIE 2026, Thailand's humble coconut is showing how an age-old harvest can find new value in a world of changing tastes and possibilities.