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Brussels agrees to send €3bn from frozen Russian assets to aid Ukraine

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Brussels agrees to send €3bn from frozen Russian assets to aid Ukraine

Diplomats agreed the controversial plans at a meeting on Wednesday – but some say they don’t go far enough.

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EU diplomats agreed Wednesday to use income from frozen Russian state assets to aid Ukraine – paving the way for the war-torn country to get around €3 bn for arms purchases and reconstruction before the summer.

Since the full-scale invasion of 2022, €210 billion in assets of the Moscow central bank have sat frozen within the bloc – chiefly at the Euroclear depositary in Belgium.

The deal was agreed “in principle” at a regular meeting of national representatives, according to a tweet by Belgium, currently chairing talks in the European Council.

Brussels has long touted using the interest from those funds, estimated at around €3bn per year, for Ukraine’s reconstruction costs – and later extended its plans to cover Kyiv’s military expenditure.

The plan – which also has backing from the group of seven leading industrialised democracies – comes as Ukraine hopes to turn the tide in an increasingly desperate military campaign, bolstered by €89bn recently agreed by the US Congress.

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But Ukrainian ministers have said Brussels needs to go further than merely scooping up interest payments – and fully confiscate Moscow’s assets to ensure the aggressor pays for the cost of war.

Officials from EU countries and the European Central Bank have expressed concerns that seizing assets outright might set an unhelpful precedent or harm the euro’s reputation as a safe currency.

Talks were also held up by concerns over how many of the assets would be retained by Euroclear as an administration fee, a figure that was originally as high as 13%, as well as Belgium’s right to tax the profits gained by the Brussels-based securities depository.

Belgian Prime Minister Alexander De Croo has already promised to send some €1.5bn directly to Ukraine, though that appears to be a result of applying existing corporate tax law to the unexpected windfall Euroclear gains by having frozen central bank assets on its books. 

The final deal allows Euroclear to keep a provisional buffer worth 10% of the profits, in case of litigation over the funds. It can also keep 0.3% as an incentive, while 90% of the funds will be sent via the European Peace Facility to help Ukraine buy weapons. 

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Commission President Ursula von der Leyen previously suggested Ukraine could receive the first funds under the mechanism by July – but the calculation will be backdated to February, when Euroclear formally segregated the assets.

Ambassadors today also formally agreed on the reforms Ukraine will have to make to receive funds from a separate €50bn facility of EU grants and loans.

UPDATE (8 May, 17:00 CET): adds clarification regarding litigation buffer.

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Video: Ultra-Orthodox Community Protests Israel’s Military Draft

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Video: Ultra-Orthodox Community Protests Israel’s Military Draft

new video loaded: Ultra-Orthodox Community Protests Israel’s Military Draft

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Ultra-Orthodox Community Protests Israel’s Military Draft

Hundreds of thousands of ultra-Orthodox Jews demonstrated against the military draft in Israel.

You can’t force people to be otherwise than the way they are. This is us. This is the way we are. You can’t change us. You can’t force people to do otherwise. It’s no good.

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Hundreds of thousands of ultra-Orthodox Jews demonstrated against the military draft in Israel.

By Jorge Mitssunaga

October 30, 2025

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Cruise ship allegedly leaves 80-year-old woman behind on island, daughter demands answers after death

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Cruise ship allegedly leaves 80-year-old woman behind on island, daughter demands answers after death

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The daughter of an 80-year-old woman found dead after allegedly being abandoned by her cruise ship recently called for a coronial inquest into her mother’s death, calling the incident “a failure of care and common sense.”

Suzanne Rees, who was partaking in a luxury 60-day cruise in Australia, was found dead Sunday after she was reported missing Saturday night.

Rees was last seen on a group hiking tour of Lizard Island, about 200 miles north of Cairns, but did not return to the Coral Adventurer cruise ship—which left at about 6 p.m. Saturday.

Witnesses said they heard commotion on the radio and saw the ship returning to the island on a vessel tracker.

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AMY BRADLEY CASE HINGES ON ‘SOMEBODY REMEMBERING’ AS INVESTIGATORS HUNT FOR NEW LEADS 27 YEARS LATER: EXPERT

The daughter of an 80-year-old woman found dead after allegedly being abandoned by her cruise ship on an Australian island is calling for an investigation into her death. (iStock)

The Australian Maritime Safety Authority (AMSA), Australia’s national maritime safety regulator, told Fox News Digital it was notified about the incident by the vessel at about 10 p.m. local time Saturday, prompting AMSA to initiate a response.

An AMSA spokesperson said they assisted Queensland Police in the search, and are continuing to work closely with Queensland authorities, including Queensland Police and WorkSafe Queensland.

“AMSA will make an assessment as to whether there was any non-compliance associated with the passenger not being counted onto the ship and, if necessary, will take action to address them,” the spokesperson wrote in a statement. “AMSA intends to conduct inquiries on board the vessel when it arrives in Darwin. We are currently investigating the circumstances surrounding why the passenger may not have been accounted for during boarding. AMSA offers its condolences to the family and loved ones of the person who has passed. Our thoughts are with them during this difficult time.”

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TWO VACATIONERS DROWN AT CARNIVAL’S NEW BAHAMAS PRIVATE ISLAND

Hikers on Lizard Island off the coast of Australia

Suzanne Rees was on a luxury 60-day cruise in Australia, when she was left behind on Lizard Island and later found dead, her daughter alleges. (Mark Conlin/VW PICS/UIG )

Rees’ daughter, Katherine, told ABC Australia “from the little we have been told, it seems that there was a failure of care and common sense.”

“We understand from the police that it was a very hot day, and Mum felt ill on the hill climb. She was asked to head down, unescorted,” Katherine told the outlet. “Then the ship left, apparently without doing a passenger count.”

The family reportedly said they are hoping to learn if Rees’ death could have been prevented.

IRISH BIKINI DESIGNER FOUND DEAD ON YACHT MONTHS AFTER DIVORCE AND PRIOR LEGAL DISPUTE

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Lizard Island hikers at lookout

The daughter of an 80-year-old woman found dead after allegedly being abandoned by her cruise ship on Lizard Island in Australia is calling for an investigation into her death. ( Education Images/UIG )

The Coroner’s Court of Queensland on Wednesday confirmed to ABC Rees’ death was “referred to the coroner for investigation.”

Once the coroner’s investigation is complete, a decision will be made about launching an inquest into the death.

AMSA said details surrounding the timing of the vessel’s arrival and AMSA’s next steps are not available, as the investigation remains active.

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“The Coral team have been in contact with the woman’s family, and we will continue to offer support to them through this difficult process,” Coral Expeditions CEO Mark Fifield reportedly wrote in a statement. “While investigations into the incident are continuing, we are deeply sorry that this has occurred and are offering our full support to the woman’s family.”

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The operation of the vessel is regulated under the Australian Navigation Act 2012 and relevant workplace laws, according to AMSA.

Fox News Digital’s Pilar Arias contributed to this report.

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Merz urges deeper ties with Turkey despite disagreements on Gaza

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Merz urges deeper ties with Turkey despite disagreements on Gaza

Europe should forge a deeper strategic partnership with Turkey in response to emerging global challenges, German Chancellor Friedrich Merz said on Thursday on his first official visit to Ankara, which has played a crucial mediating role in the conflicts in Ukraine and Gaza.

Merz was speaking alongside Turkish President Recep Tayyip Erdoğan, just days after Turkey and the United Kingdom finalised a multi-billion-euro deal for the sale of 20 Eurofighter Typhoon jets.

Germany, part of the consortium that manufactures the advanced fighter aircraft, recently lifted its longstanding objection to their export to Turkey.

Merz’s visit also comes amid reports of German backing for Turkey’s participation in a European defence initiative known as the Security Action for Europe (SAFE), a €150 billion programme designed to enhance the continent’s military capabilities.

The initiative allows non-EU countries, including Turkey, to join defence projects.

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Greece openly opposes Turkey’s participation in SAFE, arguing that Ankara must first drop its standing threat of war linked to sea boundary disputes between the two NATO members.

Merz did not mention SAFE but underscored the importance of cooperation.

“Germany and Turkey should use the enormous potential of our relations even better in the coming months and years,” he said.

“There are compelling reasons for this, because we are entering a new geopolitical phase marked by the politics of great powers,” the chancellor said.

“A central conclusion from that for me is that as Germans and Europeans, we must expand our strategic partnerships, and there is no way around a good and deepened partnership with Turkey.”

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Divisions surfaced during the joint news conference over human rights and the situation in Gaza.

The advocacy group, Human Rights Watch, had urged Merz to speak out against Turkey’s crackdown on the opposition, including the arrest of Istanbul’s mayor Ekrem İmamoğlu.

The opposition figure, widely seen as a potential challenger to Erdoğan, has been held in pretrial detention since March on corruption charges, which he denies. This week, Turkish authorities filed new charges against him for alleged espionage.

Merz avoided direct mention of İmamoğlu but said: “Decisions have been made in Turkey that do not yet meet the requirements regarding the rule of law and democracy as we understand them from the European point of view.”

Erdoğan responded by defending Turkey’s judicial system.

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“No matter what position you hold, if you trample on the law, judicial authorities in a state governed by the rule of law are obliged to take whatever action is necessary,” he said.

On the issue of Gaza, Merz said that Germany has stood firmly by Israel since it was founded in the aftermath of the Holocaust and will always do so. But “that doesn’t mean that we respect or accept every political decision by an Israeli government and accept it without criticism.”

Merz has frequently criticised Israel’s actions in Gaza in recent months.

On Thursday, he stressed that “Israel made use of its right of self-defence and it would have taken only a single decision to avoid the countless unnecessary victims: Hamas should have released the hostages earlier and laid down its weapons. Then this war would have been over immediately.”

Erdoğan, a vocal critic of Israel’s military actions, again accused Israel of using “starvation and genocide” as weapons of war.

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The Turkish leader argued that Hamas does not possess bombs or nuclear weapons, while Israel does, and criticised Germany for allegedly ignoring the imbalance.

“As Germany, can’t you see this?” he asked.

Additional sources • AP

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