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Europe exhausts legal tricks on frozen Russian assets

Proposal marks a last-ditch attempt to keep Ukraine solvent using Moscow’s immobilised wealth

Even allies of Ursula von der Leyen said she was testing the limits of EU power by proposing to use emergency measures to ram through up to €210bn in loans to Ukraine. Critics said she was breaking the bloc’s laws.

The proposal unveiled on Wednesday, which relied on powers envisaged for natural disasters to indefinitely immobilise Russian sovereign assets, was by far the most daring of the European Commission president’s fast-evolving schemes to support Ukraine.

With one leap of law, the Commission suggested a way to sidestep any veto threats from the likes of Viktor Orbán of Hungary — and with it the principle of unanimous consent on foreign policy that has endured since the Treaty of Rome that founded the European Community in 1957.

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