Previously, the freezing regime was extended every six months and required the unanimity of all EU countries. Now the assets will be blocked indefinitely, which removes the risk of their unfreezing due to the possible veto of individual states, including Hungary and Slovakia.

This decision opens the way for the use of frozen funds in the financial schemes of the European Union. The main part of the assets is stored in the Belgian bank Euroclear, where about 185 billion euros are deposited.

The decision was made by a qualified majority, without the need for the consent of all 27 EU countries. This has already provoked a sharp reaction from Budapest, where they declared “irreparable damage” to the European Union. Against this background, the Bank of Russia has confirmed that it has filed a lawsuit against Euroclear in a Moscow court, challenging the blocking of assets.