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.

Shenzhen Airport sees record passenger traffic from APEC economies in first ten months

Foreign passenger traffic from APEC member economies at Shenzhen Airport hit a historic high of 1.25 million in the first ten months of this year, local border inspection authorities said on Monday, as the city prepares to host the 33rd APEC Economic Leaders' Meeting later this month.

The 33rd APEC Economic Leaders' Meeting will be held in Shenzhen, south China's Guangdong Province, from November 18 to 19, with preparations in the final stretch.

As the meeting approaches, the airport port is seeing another surge in passenger flow, with international flights from APEC member economies including South Korea, Mexico and Malaysia arriving in succession at noon on Monday.

In addition to the APEC meeting, visa-free policies and the expansion of the international route network have driven notable growth in foreign passenger flows this year. In the first ten months, foreign nationals entering and exiting through the airport port totaled about 1.56 million passenger trips, up 27.7 percent year on year and a record high for the same period, according to the border inspection station.

A total of 1.25 million foreign nationals from APEC member economies received border inspection, up 29.6 percent year on year, also a record high for the same period. Travelers from Malaysia, South Korea, Singapore, and the United States ranked among the top sources.