EU examination of deployed Russian financial assets

EU scrutinizes potential utilization of blocked Russian financial resources

In the ongoing Ukraine conflict, a tragic nighttime attack in Zaporizhzhia resulted in the death of one civilian, and the number of injured has risen to 30. According to reports, the Ukrainian air defense counted 537 drones and 45 missiles during the attack.

Meanwhile, the European Union has taken significant steps to counter Russia's invasion. EU officials have frozen Russian assets worth around 210 billion euros (approximately 245.85 billion US dollars) as part of sanctions. The European Union is also considering using these frozen assets to finance Ukraine's defense and reconstruction after the war.

German officials have expressed openness to this idea, while French, German, and Belgian officials, who hold the largest share of the assets, have opposed an immediate seizure. European countries are reportedly encouraging Kyiv to wait for a "better deal" with Russia, according to a US outlet, Axios.

On a different note, Indian Prime Minister Narendra Modi, currently in the Chinese port city of Tianjin, is set to attend the Shanghai Cooperation Organization (SCO) summit. More than 20 heads of state and government, including Putin, will participate in the summit. Modi plans to have a bilateral meeting with the Russian president on Monday.

In the midst of these global gatherings, the Ukrainian forces are reportedly preventing Russian troops from capturing targets in the Donetsk region and halting further advances into the Dnipropetrovsk region. However, Moscow's Chief of Staff Valery Gerasimov announced a continuation of extensive air attacks against Ukraine, targeting civilian areas and residential areas.

Additionally, the British "Telegraph" reports that the US could support a European engagement with private US military firms to build Ukrainian defense positions, secure military bases, and protect companies in case of another attack by Russia.

Amidst these developments, the peace efforts in the Ukraine conflict remain a focal point. Indian Prime Minister Narendra Modi consulted with Ukrainian President Volodymyr Zelenskyy about peace efforts before his planned meeting with Kremlin chief Vladimir Putin in China. However, US President Donald Trump is not making progress in his efforts to end the Russian war against Ukraine, and high-ranking Trump officials are allegedly blaming Europe for the lack of progress.

This is a developing story and will be updated as more information becomes available.