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Amid continuing summit negotiations, Ukrainian President has insisted EU officials to activate plans using frozen Russia's funds to finance Ukrainian defence operations "as soon as possible".

Immediate Decision Needed

Speaking to EU leaders in the EU capital on the summit day, Zelenskyy stressed the crucial need to fully utilize Russia's funds for Ukraine's defense against current aggression.

"Whoever delays this determination is not only restricting our defence but also hindering your own progress," he affirmed, assuring that Ukraine would spend substantial resources in purchasing European armaments.

European Union Loan Initiative

EU representatives are actively evaluating initiatives to fund an non-interest loan for the country secured by Russia's central bank assets, which were frozen immediately after the extensive invasion.

European officials has outlined a 140-billion-euro non-interest assistance, with potential directives to draft comprehensive regulatory documentation seeking to conclude the plan by year's end.

International Reactions

The Kremlin has labeled the plan as "theft" and has vowed to target any persons or countries deemed to have appropriated Russian funds.

Belgium, which maintains 183 billion euros at Euroclear, representing eighty-six percent of all Russian government assets within the EU, has expressed concerns about the initiative.

"When you want to move forward, we will have to proceed collectively," declared the Belgian leader, highlighting the necessity for safeguards that all EU countries would bear the financial burden if Moscow sought to retrieve its money.

Global Coordination

About a third of Russia's government assets are located beyond the European Union, including in Japan (28 billion euros), the Britain (27 billion euros), the North American country (€15 billion) and the United States (4 billion euros).

• The Asian nation maintains substantial Russian holdings
• United Kingdom holds significant Russian economic assets
• The North American country has considerable Russia's funds
• US maintains reduced but important assets

Diplomatic Obstacles

The Hungarian government, recognized for its pro-Russian stance, has often delayed European Union restrictive measures and although it has never ventured to prevent them, its anti-Ukraine rhetoric prompt questions about continued endorsement.

Hungarian Prime Minister missed the Ukraine-related negotiations to participate in ceremonies in the Hungarian capital marking the 1956 Hungarian revolution.

Latest Measures

Prior to the summit, the EU approved its latest package of restrictive measures against Russia, targeting energy resources for the first time.

This move came after parallel measures by the US, which implemented sanctions on the Russian major energy firms, the energy giants.

Optimism in Resolution

Notwithstanding persistent disagreements over the reparations loan, various officials voiced assurance in reaching an agreement.

"Today we will make the political resolution to guarantee the financial necessities of Ukraine from the coming years," declared a senior EU leader, characterizing the remaining tasks as "administrative details".

Latvia's leader commented that an consensus on the loan would empower the Ukrainian president in any possible negotiation talks.

Diplomatic Possibilities

The Ukrainian government has minimized information of a 12-point resolution plan that surfaced previously, indicating it was the effort of "certain allies" seeking to pre-empt "a proposal from Russia".

Zelenskyy highlighted that the Russian government has exhibited no sign of wishing to end the conflict, mentioning current bombings on populated targets.

"Additional measures on Russia and they will sit and discuss and I think this is the plan," he stated.