Politico has learned of the EU's plan to simplify the mechanism for freezing Russian assets.

EU ambassadors will consider the issue of granting the European Commission authority to permanently freeze Russia's assets by the end of the week, Poltico reports.

The publication notes that the freezing mechanism may be simplified in order to secure Belgium's support and "adopt the plan by the end of the week."

EU countries want to expedite the adoption of a law that would permanently freeze €210 billion in Russian assets, the Financial Times reported. This move seeks to prevent Hungarian Prime Minister Viktor Orbán from vetoing the upcoming EU summit.

The Wall Street Journal previously reported that European leaders were unlikely to agree on a loan for Ukraine using frozen Russian assets at the upcoming EU summit. The European Commission stated that a decision on financing Ukraine for 2026–2027 would be made at the EU summit on December 18–19.

Belgium opposes the "reparations loan," explaining that it is not prepared to bear the risks of such a scheme alone. Euroclear also spoke out against it, fearing Moscow's retaliatory actions, specifically the threat of losing €16 billion in client assets held in Russia. European Central Bank President Christine Lagarde stated that the legal and financial justification for asset seizure appears "strained." The IMF also rejected the proposal .