Ukraine Funding

The European Union has agreed to freeze Russian central bank assets in Europe indefinitely, a move that clears the way for using the funds to help finance Ukraine’s defense and recovery amid Russia’s ongoing invasion.

EU governments approved the decision on Friday, ending the need to renew the asset freeze every six months and locking down about €210 billion in Russian sovereign funds held mainly in Belgium. The step removes a key political risk that had threatened plans to channel the money toward Ukraine.

European officials see the war as a direct security challenge to the bloc and have been …