The leaders of the European Union have spoken out in favor of Russian assets subject to EU sanctions remaining immobilized until the war is over and the damage caused to Ukraine is compensated.

This is stated in the conclusions of the European Council, approved at the end of the meeting, which took place on October 17 in Brussels.

"Subject to EU law, Russia's assets should remain immobilised until Russia ceases its war of aggression against Ukraine and compensates it for the damage caused by this war. In full respect of the security and defence policy of certain Member States, the European Council welcomes the agreement on the use of extraordinary revenues stemming from Russia’s immobilised assets, while continuing to address all relevant legal and financial aspects. It will aim to ensure fair sharing and solidarity between G7 partners as well as with those Member States that are particularly exposed to financial and legal risks," the document reads.

The European Council underlines the importance of fulfilling the commitments made at the G7 Summit in Puglia to provide, together with G7 partners, around EUR 45 billion ($50 billion) by the end of the year to support Ukraine's current and future military, budgetary and reconstruction needs.

In this regard, it invites the High Representative for Foreign Affairs and Security Policy and the European Commission to engage with Ukraine on each of these components.