Russia hits back at Europe’s big plan to loan Moscow’s frozen cash to Ukraine

BBC:

Russia is taking legal action in response to moves by Ukraine’s European allies to use Moscow’s frozen assets to help Kyiv fund its military and economy.

The Russian Central Bank is suing Belgian bank Euroclear in a Moscow court, and Russian officials accuse the EU of an act of theft.

Ukraine is running out of cash, after almost four years of Russia’s full-scale war.

For Europe, the solution to plugging Kyiv’s budget hole of €135.7bn (£119bn; $159bn) for the next two years lies in frozen cash held by Euroclear, and EU leaders hope to sign that off at their Brussels summit next week.