Volodymyr Zelensky is urging European Union leaders gathered at a crunch summit in Brussels to loan billions of euros in frozen Russian money to fund Ukraine’s military and economic needs.
Most of Russia’s €210bn (£185bn; $245bn) worth of assets in the EU are held by Belgium-based organisation Euroclear, and so far Belgium and some other members of the bloc have said they are opposed to using the cash as a “reparations loan”.
Russia has warned the EU not to use its money, but without a boost in funding Ukraine’s finances are set to run dry in a matter of months.
“I hope we will be able to get a positive decision,” Zelensky told reporters. “Without this there will be a big problem for Ukraine”.
