The Big Money Showdown: Russia vs. The EU

Russia is in a tight spot. They want their $230 billion back. This money is stuck with Euroclear. Why? Because the EU froze it after Russia's invasion of Ukraine. Now, the EU wants to use some of this money to help Ukraine. They say it's fair because Russia still owns it, but they can't touch it. Russia isn't having it. They call it straight-up theft. They even threatened to take money from European investors in Russia. Kirill Dmitriev, a big shot in Russia, said they will win in court and get their money back. He also warned that the EU and Euroclear will face consequences. He even tried to stir up trouble between the US and Europe, calling the plan a bad move against money rules.Euroclear is staying quiet. They already have over 100 lawsuits in Russia. Russia might try to get their money back from countries that are friends with them, like China or the UAE. The EU is trying to stop this. They're working on ways to protect their own money and keep other countries from helping Russia. There's a plan on the table. The EU wants to lend Ukraine €90 billion using the frozen money. Russia would still own the money, but Ukraine would only pay it back if Russia agrees to pay for the damage they caused. Some countries, like Belgium, want to do it differently. They want the EU to borrow money together to help Ukraine. But not everyone is on board. Hungary, for example, is against it. The EU's foreign policy chief, Kaja Kallas, thinks the reparations loan is the best option. She says it doesn't come from taxpayers' money. It also sends a clear message: if you cause damage, you have to pay for it.