EU leaders fail to agree to use frozen Russian assets to defend Ukraine

Belgium derails proposal to use billions located in Brussels to fund 140bn loan to Ukraine for its war effort

EU leaders have swerved a decision on using Russia's frozen assets to fund Ukraine's defence, despite a plea from Volodymyr Zelenskyy to take swift action to make Moscow pay for its war.

Hopes of agreeing a new way of funding Ukraine's war effort were dashed after opposition from Belgium, which hosts most of the Russian central bank funds immobilised in the EU at the Brussels-based institution Euroclear.