EU's Bold Move: Utilizing Frozen Russian Assets for Ukraine

The European Union's ambitious proposal to repurpose frozen Russian assets for Ukraine's benefit is currently under thorough evaluation. Economy Minister Giancarlo Giorgetti made this announcement on Friday, emphasizing the importance of a cautious approach given the legal intricacies involved.

This initiative represents the EU's effort to create a reparation loan aimed at strengthening Ukraine's financial stability during the ongoing conflict, while also maneuvering around potential opposition from Hungary, a nation with strong ties to Moscow.

Giorgetti's statement followed a meeting of the bloc's finance ministers held in Copenhagen, where the EU's strategy to offer economic support to Ukraine without triggering a Hungarian veto was a central topic of discussion.

(With inputs from agencies.)