EU indefinitely freezes Russian assets to prevent Hungary and Slovakia from vetoing billions of euros being sent to support Ukraine

A recent Danish intelligence report has raised alarms regarding the economic leverage and military threats posed by the U.S. under the Trump administration, highlighting concerns over the growing influence of China and Russia in reducing Western dominance globally.

The Russian stock market closed lower, with the MOEX Russia Index remaining unchanged, indicating a period of stagnation in trading activity. This development reflects ongoing market uncertainties and investor sentiment in the region.

The European Union has made a significant decision to utilize frozen Russian assets as collateral to support Ukraine's defense efforts amid the ongoing conflict with Russia. This move is part of a broader strategy to provide financial assistance to Ukraine, which is facing a severe economic crisis due to the war.

The MOEX Russia Index closed down 0.61%, reflecting a negative sentiment in the Russian stock market as trading ended. This decline follows a recent trend of fluctuating performance, with the index experiencing a drop of 1.75% in the previous session, indicating ongoing market volatility.

The European Union is set to vote on the Mercosur trade deal next week, as confirmed by Denmark. This vote is a significant step in the EU's ongoing efforts to finalize the agreement with the South American trade bloc, which has faced various challenges and delays in recent years.

Crude oil futures ended the week lower, marking consecutive losses as the market grappled with ongoing concerns about oversupply. The potential for a peace deal between Russia and Ukraine has diminished the geopolitical premium that typically supports oil prices, leading to a decline in market confidence.

The European Union has agreed to indefinitely freeze Russian assets, a decision aimed at facilitating financial support for Ukraine amidst its ongoing conflict with Russia. This move is intended to eliminate potential vetoes from Hungary and Slovakia regarding the allocation of funds to Ukraine, which is facing a significant cash shortfall.

Russia's Central Bank has filed a lawsuit in Moscow against Euroclear, the depository holding frozen Russian assets, as a warning to European officials who are considering using these assets to finance a loan for Ukraine. This legal action underscores the tensions surrounding the financial strategies being employed in response to the ongoing conflict in Ukraine.