Europe gives green light to indefinite freeze on Russian assets

Member States have given the green light to the use of Article 122 of the Treaty on the Functioning of the European Union, which allows for the indefinite freezing of Russian assets without having to submit to the six-monthly renewal of sanctions against Russia, with the associated unanimity requirement. In this case, states like Hungary no longer have the veto power, according to EU sources. The use of Article 122 is considered justified by exceptional circumstances and the serious economic risks posed by Russian aggression. The regulation, whose vote concluded at 5:30 PM by written procedure, was approved by 25 Member States, while two voted against. The move paves the way for the use of Russian assets for the reparation loan to Kiev.