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Amid continuing conference negotiations, Volodymyr Zelenskyy has urged EU leaders to execute measures using frozen Russia's funds to support Ukrainian defense efforts "without delay".

Immediate Decision Required

Appealing to EU leaders in the EU capital on Thursday, Zelenskyy highlighted the crucial requirement to fully employ Russian funds for his country's defense against ongoing military action.

"Whoever delays this resolution is not only restricting our defence but also impeding your own progress," he declared, promising that the nation would invest substantial money in buying European armaments.

EU Loan Proposal

European Union representatives are currently evaluating plans to finance an non-interest loan for Ukraine guaranteed by Russian state resources, which were frozen immediately after the comprehensive invasion.

The European Commission has outlined a substantial financial non-interest loan, with potential mandates to draft comprehensive regulatory texts intending to conclude the plan by December.

Global Reactions

Moscow has described the plan as "theft" and has pledged to take action against any entities or countries judged to have seized Russian funds.

Brussels authorities, which holds 183 billion euros at Euroclear, constituting 86% of all Russia's government resources within the EU, has raised concerns about the plan.

"If you want to proceed, we will have to act collectively," commented the Belgian leader, highlighting the need for guarantees that all member states would bear the financial burden if Russia tried to reclaim its funds.

International Coordination

Approximately one-third of Russian state assets are located beyond the EU, including in the Asian nation (28 billion euros), the United Kingdom (€27 billion), Canada (€15 billion) and the US (€4 billion).

• The Asian nation maintains significant Russian resources
• United Kingdom holds considerable Russian financial assets
• Canada has substantial Russian funds
• United States maintains reduced but important assets

Political Challenges

The Hungarian government, recognized for its pro-Russian stance, has repeatedly delayed European Union restrictive measures and although it has never attempted to veto them, its skeptical statements create doubts about future support.

The Hungarian leader skipped the defense negotiations to attend events in the Hungarian capital commemorating the historical uprising.

Latest Developments

Previously, the European Union approved its latest set of restrictive measures against the Russian Federation, targeting energy resources for the first instance.

This move was subsequent to parallel steps by the United States, which imposed measures on the Russian two largest energy firms, major Russian enterprises.

Optimism in Resolution

Notwithstanding persistent disagreements over the compensation assistance, several officials demonstrated assurance in reaching an accord.

"Today we will establish the political resolution to ensure the economic necessities of Ukraine from the coming years," affirmed a senior EU representative, labeling the pending tasks as "administrative details".

Latvia's leader observed that an accord on the financial package would strengthen Zelenskyy in any possible peace talks.

Diplomatic Possibilities

The Ukrainian authorities has minimized accounts of a 12-point resolution proposal that appeared recently, suggesting it was the effort of "supportive nations" seeking to anticipate "a proposal from the Russian government".

Zelenskyy stressed that Moscow has shown no evidence of desiring to stop the hostilities, citing current attacks on non-military areas.

"Additional measures on Russia and they will engage and speak and I consider this is the strategy," he stated.