The European Union has moved to lock in the freeze on Russian central bank reserves, marking a significant shift in how the bloc handles Moscow’s sovereign assets and opening the way for a large-scale financial package for Ukraine. The decision removes the previous six-month renewal requirement, meaning the roughly 210 billion euros held across Europe will remain inaccessible to Russia unless a qualified majority of EU countries – at least 15 member states representing over half of the Union’s population – votes to lift the measure. Until now, unanimity was needed, leaving the sanctions vulnerable to objections from Hungary or Slovakia, both of which had repeatedly threatened to block an extension.
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