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Euroclear, the custodian of the immobilised Russian assets, has criticised the reparations loan for Ukraine as fragile, unpredictable and risky. In Brussels, the German chancellor holds a crisis meeting with the Belgian prime minister to find a compromise and break the deadlock on the proposal.

French president’s remarks come a day after a report claimed he had warned Washington could betray Kyiv

The crisis meeting between the German chancellor and the Belgian premier is aimed at unblocking the reparations loan to Ukraine. It comes as Ursula von der Leyen offered sweeping guarantees to protect Belgium.

Liquidity guarantees, legal protection, anti-corruption safeguards, 'Made in Europe' criteria: here's how Ursula von der Leyen intends to overcome the Belgian resistance and approve the reparations loan for Ukraine.

Ursula von der Leyen has offered sweeping guarantees for Belgium to agree to an unprecedented reparations loan for Ukraine. Belgian authorities say risks could be fatal. EU leaders will gather on 18 December to make a final decision. If no deal is found, the EU will resort to joint debt.

The latest effort to support Ukraine with immobilised Russian assets has suffered a new setback at the hands of the European Central Bank, which warned that the plan would violate EU treaties and undermine the institution's independence.

The reparations loan for Ukraine will prove to Washington that Europe is taking "very credible" steps to end Russia's war, High Representative Kaja Kallas said on Monday. It comes after the Belgian prime minister warned that the unprecedented proposal risked derailing the diplomatic process.

Hopes to secure a reparations loan for Ukraine have been dashed after the Belgian prime minister blasted the proposal as "fundamentally wrong" and called on the EU to raise fresh debt instead of touching the Russian assets.

EU ambassador to Ukraine Katarína Mathernová calls on the European Union to find an agreement to use the Russian frozen assets to finance Ukraine's war effort. In a strongly worded letter sent overnight, Belgian PM De Wever pushed back against the plan citing "unequivocal risks" for his country.

Europe is considering seizing billions in Russian assets to support Ukraine, as proposed by U.S. President Donald Trump

The options paper sent by Ursula von der Leyen to EU leaders presents a binary choice: fresh debt or tap the Russian assets. Euronews breaks down the key elements of her long-awaited document.