"EU Considers Seizing Frozen Russian Assets to Arm Ukraine"

The Kremlin has issued a warning of "catastrophic consequences" if the EU proceeds with plans to confiscate Russian assets held in Western banks, as some banks fear potential costly litigation and liability. EU leaders have agreed to work on a plan to use up to 3 billion euros a year to supply arms to Ukraine from the interest earned on frozen Russian assets, prompting Russia to assert that the assets belong to their holders. The Central Bank Governor also stated that corresponding measures will be taken to defend Russia's interests in response to EU actions on frozen assets.