Europe rejects US plan to unfreeze Russian assets for talks
World
The US just floated a plan to unfreeze billions in Russian assets, hoping it'll help restart stalled peace talks between Russia and Ukraine.
The catch? The US would manage the funds, which made European officials uneasy.
They shot down the idea over concerns about giving Washington too much control.
Frozen assets could back Ukraine €45bn
Most of these Russian funds have been stuck in Europe since Russia invaded Ukraine in 2022, and they've actually earned enough interest to back a €45 billion loan for Ukraine from G-7 countries.
The European Union wants to use this money for rebuilding Ukraine if Russia won't pay up, but every European Union country has to agree first, which isn't easy.
Meanwhile, Russia is demanding the return of its frozen assets and even threatening legal action.