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‘Money today or blood tomorrow’: EU leaders race to secure deal for Ukraine

Summit divided on idea of loan secured against Russian assets, as Belgium seeks guarantees if scheme goes wrong

EU leaders are racing to secure a funding deal for Ukraine that has been cast as a choice between “money today or blood tomorrow”, but Belgium continues to oppose a loan secured against Russia’s frozen assets.

At a summit billed as make or break, EU leaders are discussing an unprecedented move to tap some of Russia’s €210bn sovereign assets frozen in the bloc days after the full-scale invasion of 2022.

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© Photograph: Ukrainian Armed Forces/Reuters

© Photograph: Ukrainian Armed Forces/Reuters

© Photograph: Ukrainian Armed Forces/Reuters

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EU leaders urged to use frozen Russian assets to fund Ukraine’s defence

Pressure is growing on member states to back a €90bn loan for Kyiv ahead of a Brussels summit

European leaders are being urged to decide whether to use Russia’s frozen assets to fund Ukraine’s defence at a time of unprecedented pressure from the US.

At a critical summit in Brussels on Thursday, EU leaders will be asked to make good on a promise to find urgently needed cash for Ukraine, with Kyiv under pressure to cede territory as Russia ekes out advances on the battlefield.

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© Photograph: Reuters

© Photograph: Reuters

© Photograph: Reuters

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Belgian politicians and finance bosses targeted by Russian intelligence over seized assets

Exclusive: Key figures at frozen assets depository among targets of intimidation campaign, say European intelligence agencies

Belgian politicians and senior finance executives have been subject to a campaign of intimidation orchestrated by Russian intelligence aimed at persuading the country to block the use of €185bn assets for Ukraine, according to European intelligence agencies.

Security officials indicated to the Guardian that there had been deliberate targeting of key figures at Euroclear, the securities depository holding the majority of Russia’s frozen assets, and leaders of the country.

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© Photograph: Nicolas Maeterlinck/Belga Mag/AFP/Getty Images

© Photograph: Nicolas Maeterlinck/Belga Mag/AFP/Getty Images

© Photograph: Nicolas Maeterlinck/Belga Mag/AFP/Getty Images

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