Editor's note: Aysel Mammadzada is an Azerbaijan-based journalist. The views expressed in this article are the author’s own and do not necessarily reflect those of News.Az.

Ratings agency Fitch has put Euroclear Bank on “rating watch negative”, citing potential legal and liquidity risks stemming from the European Union’s plans to use frozen Russian central bank assets to fund a reparations loan to Ukraine.

Polish Prime Minister Donald Tusk said that using frozen Russian assets to support Ukraine’s reconstruction and military needs is likely years away, despite recent EU measures to freeze billions in Russian funds.

Belgium has criticized the European Union’s plan to loan profits from frozen Russian assets to Ukraine, saying the proposal fails to address the country’s concerns.

French President Emmanuel Macron has rejected calls to confiscate frozen Russian assets, saying doing so would violate international law.

The countries participating in the summit in London did not reach a consensus on the issue of using frozen Russian assets to finance Kyiv.

European Commission President Ursula von der Leyen announced on Thursday that 160 million euros from frozen Russian assets will be allocated to address Ukraine’s urgent humanitarian needs for the winter.