EU starts steps to freeze Russian assets long-term by Friday
BRUSSELS, Dec 11 (Reuters) - European Union governments started on Thursday a process to freeze Russian central bank assets immobilised in Europe for the long-term to avoid votes every six months on rolling over the freeze and pave the way for the use of the money for Ukraine.
The decision to launch the process, under which a qualified majority of EU governments has to agree, is part of the EU's legal system which allows governments to take special measures if they believe they need to protect the economic stability of the EU in special circumstances under Article 122 of the EU treaty.
"The Danish Presidency can inform that COREPER (ambassadors of EU governments in Brussels) has agreed on a revised version of the Art. 122-proposal and approved the launch of a written procedure for formal Council decision by tomorrow around 5 pm," the Danish presidency of the EU said in a statement.
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