How will the West use Russia's frozen assets?

The European Union is working on ways to finance Ukraine's defence and reconstruction with Russian central bank assets immobilised in the West after Moscow's invasion. The European Commission plan would allow European governments to use much of the roughly $300 billion of frozen Russian assets for Ukraine without confiscating them - a red line for many of them and for the European Central Bank. The European Union would issue a Reparations Loan to Ukraine on the basis of cash balances accrued from maturing securities immobilised in 2022 after Moscow invaded Ukraine. The loan would only be repaid by Ukraine once it receives war reparations from Russia in a peace agreement, effectively allowing Ukraine to spend the money now, rather than...