Freezing for “as long as necessary” Russian assets worth more than 200 billion euros placed in Europe is “an important decision,” French diplomatic chief Jean-Noel Barrot assessed today as the 27 European Union member states are expected to ratify the decision today.

At the start of Russia’s war in Ukraine, Russian assets were frozen for six months, with the freeze renewed every six months, provided the 27 member states are unanimous.

“It is the subject of the decision we are taking today, which is an important decision that will undoubtedly change the course of the war and accelerate peace,” he said.

The French foreign minister said the frozen assets would remain frozen “until Russia stops its war of aggression and makes reparations to Europe.”

“It will allow to avoid [the possibility] that others than the Europeans” will decide in the place of the Europeans “the fate and destination of these sums,” the French minister also stressed, referring to the fact that US President Donald Trump is looking forward to using Russian assets for investments from which US companies will benefit.

This time-unlimited commitment allows for new aid for Ukraine, “including a package of financing that is currently being intensively discussed in Brussels, on which there could be a conclusion at the end of next week so that Ukraine does not face difficulties for at least two years if the war nevertheless continues,” Jean-Noel Barrot also said.

Technically, the 27 decided yesterday, Thursday, to maintain the sanctions against Moscow that form the basis of the freezing of Russian assets, the Danish EU presidency announced yesterday. The decision is expected to be ratified today following a written procedure.

The 27 heads of state and government will then meet at a summit in Brussels on 18 December to discuss their plan to finance Ukraine with the possible use of Russian assets frozen in Europe.

So far, the Europeans have run into opposition from Belgium, where most of the Russian central bank’s assets are located.

In the absence of currently solid guarantees from other EU member states, Belgian Prime Minister Bart de Vever refuses to allow his country to be the only one to suffer the consequences should a problem arise.