PM Narendra Modi will address the nation at 8.30 pm tonight, the government has announced, but the subject of his address has not yet been disclosed Prime Minister Narendra Modi will address the nation at 8:30 p.m. tonight. The announcement comes a day after Opposition parties blocked the Women
To date, 22 installments of the Pradhan Mantri Kisan Samman Nidhi scheme have been released. The 22nd installment of this scheme was deposited into farmers’ bank accounts on March 13, 2026, and farmers are now awaiting the 23rd installment, which is expected to be deposited into their bank
Prime Minister Narendra Modi has stated that political parties opposing the women's reservation bill will face consequences. He urged Union ministers to highlight the opposition's stance as anti-women to the public. The bill did not secure the required majority in the Lok Sabha
The Iranian military on Saturday said that it was closing the Strait of Hormuz again, AFP reported. Iran’s central military command said that, in response to the naval blockade of its ports imposed by the United States, the strategic waterway was again “under strict management and control of
Meetings platform Zoom has partnered with Sam Altman's human ID verification company World to verify that the participants in meetings are actual humans and not AI-generated avatars. The new integration, dubbed World ID Deep Face, is aimed at combating the rising threat of deepfakes and AI-driven
US-returned techie says salary in India feels more like ‘pocket money’An Indian woman who spent several years working in the US, before moving back to India, has opened up about how the shift changed her perspective and priorities Updated on: Apr 19
Around seven lakh new voters have been added to West Bengal electoral rolls ahead of the assembly elections, with the Election Commission yet to disclose the age or gender break-up of this additional electorate, officials said on Saturday. Around 3
Weekly Panchang for April 19-25, 2025: Auspicious & Inauspicious MuhuratsWeekly Panchang for April 19-25, 2025, to determine the auspicious & inauspicious time for performing day-to-day tasks based on the planetary positions. Published on: Apr 19
EU backs indefinite freeze on Russia's frozen cash ahead of loan plan for Ukraine
EU backs indefinite freeze on Russia's frozen cash ahead of loan plan for Ukraine
European Union governments have agreed to immobilise indefinitely Russian assets of up to €210bn (£185bn) that have been frozen in the EU since the start of Russia's full-scale invasion of Ukraine.
Most of Moscow's cash is held in Belgian bank Euroclear, and European leaders are hoping to agree a deal at next week's crunch EU summit that would use the money for a loan to help Kyiv fund its military and economy.
After almost four years of Russia's full-scale war Ukraine is running out of cash, and needs an estimated €135.7bn (£119bn; $159bn) over the next two years.
Europe aims to provide two-thirds of that, but Russian officials accuse the EU of theft.
The Russian Central Bank said on Friday it was suing Belgian bank Euroclear in a Moscow court, in response to the EU loan plan.
Russia's assets in the EU were frozen within days of the full-scale invasion of Ukraine in February 2022, and €185bn of that is held by Euroclear.
The EU and Ukraine argue that money should be used to rebuild what Russia has destroyed: Brussels calls it a "reparations loan" and has come up with a plan to prop up Ukraine's economy to the tune of €90bn.
"It's only fair that Russia's frozen assets should be used to rebuild what Russia has destroyed – and that money then becomes ours," says Ukraine's Volodymyr Zelensky.
German Chancellor Friedrich Merz says the assets will "enable Ukraine to protect itself effectively against future Russian attacks".
Russia's court action was expected in Brussels and European Economic Commissioner Valdis Dombrovskis said on Friday that EU financial institutions were "fully protected" from legal proceedings.
But it is not just Moscow that is unhappy.
Belgium is worried it will be saddled with an enormous bill if it all goes wrong and Euroclear chief executive Valérie Urbain says using it could "destabilise the international financial system".
Euroclear also has an estimated €16-17bn immobilised in Russia.
Belgian Prime Minister Bart De Wever has set the EU a series of "rational, reasonable, and justified conditions" before he will accept the reparations plan, and he has refused to rule out legal action if it "poses significant risks" for his country.
The EU is working to the wire ahead of next Thursday's summit to come up with a solution that Belgium can accept.
Until now the EU has held off touching the assets themselves directly but since last year has paid the "windfall profits" from them to Ukraine. In 2024 that was €3.7bn. Legally using the interest is seen as safe as Russia is under sanction and the proceeds are not Russian sovereign property.
But international military aid for Ukraine has slipped dramatically in 2025, and Europe has struggled to make up the shortfall left by the US decision to all but stop funding Ukraine under President Donald Trump.
There are currently two EU proposals aimed at providing Ukraine with €90bn, to cover two-thirds of its funding needs.
One is to raise the money on capital markets, backed by the EU budget as a guarantee. This is Belgium's preferred option but it requires a unanimous vote by EU leaders and that would be difficult when Hungary and Slovakia object to funding Ukraine's military.
That leaves loaning Ukraine cash from the Russian assets, which were originally held in securities but have now largely matured into cash. That money is Euroclear property held in the European Central Bank.
The EU's executive, the European Commission, accepts Belgium has legitimate concerns and says it is confident it has dealt with them.
The plan is for Belgium to be protected with a guarantee covering all the €210bn of Russian assets in the EU.
Should Euroclear suffer a loss of its own assets in Russia, a Commission source explained that would be offset from assets belonging to Russia's own clearing house which are in the EU.
If Russia went after Belgium itself, any ruling by a Russian court would not be recognised in the EU.
In a key development, EU ambassadors have agreed that Russia's central bank assets held in Europe should be immobilised indefinitely.
Until now they have had to vote unanimously every six months to renew the freeze, which could have meant a repeated risk to Belgium.
The EU ambassadors used an emergency clause under Article 122 of the EU Treaties so the assets remain frozen as long as an "immediate threat to the economic interests of the union" continues, or until Russia pays war reparations to Ukraine in full.
Swedish Finance Minister Elisabeth Svantesson said the decision was an "important step in enabling more support for Ukraine and protecting our democracy".
Belgium is adamant it remains a staunch ally of Ukraine, but sees legal risks in the plan and fears being left to handle the repercussions if things go wrong.
A usually divided political landscape in this case has rallied behind Prime Minister Bart De Wever, who is under pressure from European colleagues.
"Very important decisions" would be made by the EU in the coming week, he said during a meeting with UK Prime Minister Sir Keir Starmer in London on Friday. He added that Belgium and the UK would work together to "get the certainty that we can support Ukraine to stay a free, democratic and sovereign country".
The EU believes it can secure sufficient guarantees for the loan itself, but Belgium fears an added risk of being exposed to extra damages or penalties.
"Belgium is a small economy. Belgian GDP is about €565bn – imagine if it would need to shoulder a €185bn bill," says Veerle Colaert, professor of financial law at KU Leuven University.
She also believes the requirement for Euroclear to grant a loan to the EU would violate EU banking regulations.
"Banks need to comply with capital and liquidity requirements and shouldn't put all their eggs in one basket. Now the EU is telling Euroclear to do just that.
Why do we have these bank rules? It's because we want banks to be stable. And if things go wrong it would fall to Belgium to bail out Euroclear. That's another reason why it's so important for Belgium to secure water-tight guarantees for Euroclear.
There is no time to lose, warn seven EU member states including those closest geographically to Russia such as the Baltics, Finland and Poland. They believe the frozen assets plan is "the most financially feasible and politically realistic solution".
"It's a matter of destiny for us," says leading German conservative MP Norbert Röttgen. "If we fail, I don't know what we'll do afterwards. That's why we have to succeed in a week's time".
While Russia is adamant its money should not be touched, there are added concerns among European figures that the US may want to use Russia's frozen billions differently, as part of its own peace plan.
Zelensky has said Ukraine is working with Europe and the US on a reconstruction fund, but he is also aware the US has been talking to Russia about future co-operation.
An early draft of the US peace plan referred to $100bn of Russia's frozen assets being used by the US for reconstruction, with the US taking 50% of the profits and Europe adding another $100bn. The remaining assets would then be used in some kind of US-Russia joint investment project.
An EU source said the added advantage of Friday's expected vote to immobilise Russia's assets indefinitely made it harder for anyone to take the money away. Implicit is that the US would then have to win over a majority of EU member states to vote for a plan that would financially cost them an enormous sum.
Hungary's Viktor Orban, seen as Russia's closest partner in the EU, said Europe's leaders were "placing themselves above the rules" and replacing the rule of law with the rule of bureaucrats.
Source: BBC
Related Posts: Won’t governments be at whims of governor if bills can be withheld indefinitely US-Russian crew of 3 blasts off to International Space Station in Russian Soyuz rocket How the EU's $105 billion loan to Ukraine will work without frozen Russian assets US says it won’t renew sanctions waiver that allowed India to buy Russian oil European Union unveils new vision for strategic relations with India European Union agrees to double steel import tariffs to 50% to curb cheap inflows from China Will European Union give ground on 2035 combustion-engine ban European Union opens investigation into Musks AI chatbot Grok over sexual deepfakes How European Union Trade Bolsters Russia’s War Chest Elon Musk Says European Union
There were chants of "we want our Chelsea back" during a protest march before kick-off - then the chorus spread to the stands during the second half of the defeat by Manchester United. The frustration from supporters is understandable, given Chelsea have now lost their past four Premier League
59 minutes ago
Congress leader Adhir Ranjan Chowdhury criticizes Mamata Banerjee's role in voter list issues. He states the Congress will contest all assembly seats alone this time. Chowdhury believes the political landscape has changed. The party aims to establish its presence in every polling booth
59 minutes ago
Prime Minister Narendra Modi mourned the passing of former Rajya Sabha MP Balbir Punj, remembering him as a prolific writer, thinker, and public intellectual who significantly contributed to strengthening the BJP. Punj's impactful writings and parliamentary interventions, rich in facts and theory
59 minutes ago
Congress MP Priyanka Gandhi Vadra on Saturday accused the Union government of conspiring to weaken democracy and alter the federal structure of the country by attempting to bring in a bill to amend the 2023 Women’s Reservation Act and redraw the boundaries of electoral constituencies
59 minutes ago
Delhi airport alert: Weather conditions in the National Capital have changed again, and they are negatively affecting air travel operations. IndiGo, an airline based in India and one of India’s largest airlines, has released a detailed travel advisory
59 minutes ago
The two centres of this crisis are the 24-mile Strait of Hormuz south of Iran and 7,000 miles away in the White House. This week was the unique opportunity for the rest of the world to make its economic case to US President Donald Trump's administration directly at the Spring meeting of the
59 minutes ago
HDFC Bank Q4 Results: HDFC Bank reported a steady performance for the quarter and full year ended March 31, 2026. The bank’s standalone net profit for FY26 rose to Rs 19.12 billion, marking a 10.9% increase compared to the previous year.HDFC Bank Q4 Results: HDFC Bank reported a steady
59 minutes ago
PIB fact-checks influencer CA Sarthak Ahuja's video about income tax clearance certificate for travel abroadUnder Section 230 [of the Income Tax Act, 1961], tax clearance certificates are not mandatory for everyone, says PIB Updated on: Apr 18
59 minutes ago
The sacred Char Dham Yatra has taken a step forward as offline registration officially commenced, allowing thousands of devotees to prepare for one of India’s most significant pilgrimages. With the yatra set to begin on April 19 on the auspicious occasion of Akshaya Tritiya
59 minutes ago
Prime Minister Narendra Modi on Saturday alleged that Opposition parties stood against the women’s reservation bill for their “selfish political interests”, and that they insulted the framers of the Constitution by doing so. Modi made the statement a day after the Union government’s bill to
59 minutes ago
Jannik Sinner faced early season setbacks but has since achieved remarkable success. He has captured three consecutive ATP Masters 1000 titles and regained the world number one ranking. Sinner's improved serve and baseline game present challenges for rivals
59 minutes ago
Indian nurse in Germany gifts sister iPhone 16 with first salary: ‘My first salary was hers’An Indian woman in Germany fulfilled a promise with her first salary. Published on: Apr 19, 2026 7:56 AM IST By Mahipal Singh Chouhan Share via Copy link An Indian nurse working in Germany has struck an
1 hours ago
Sumit Antil's complaint prompts quick action: PCI sacks Dronacharya awardee Naval Singh after Neeraj Chopra backs claimsThe Paralympic Committee of India has dismissed coach Naval Singh amid allegations of harassment by champion Sumit Antil. Published on: Apr 19
1 hours ago
‘Conspiracy defeated’: Priyanka Gandhi calls women’s bill failure a win for ConstitutionPriyanka Gandhi hailed Opposition unity and said, “It was a victory for the Constitution, the country and the unity of the opposition." Updated on: Apr 19
1 hours ago
Iran says it is closing the Strait of Hormuz again to commercial vessels and that any ship that approaches it will be targeted. The closure came as reports emerged of vessels in or near the strait, including a tanker, were targeted by Tehran on Saturday
59 minutes ago
A 36-year-old man in Florida died by suicide after weeks of extensive interaction with an artificial intelligence chatbot, a case that is now at the centre of a lawsuit against Google and a wider debate on AI safety. Jonathan Gavalas, described by his family as stable and without a history of
1 hours ago
India's G20 satellite for climate and pollution study is set for a 2027 launch. ISRO is leading this initiative. The nation also aims for a human mission to the moon by 2040. This will place India alongside leading space-faring countries. ISRO is also developing a titanium vessel for the
1 hours ago
Iran had reopened the crucial waterway on Friday after a ceasefire agreement was reached in Lebanon, but Trump said the US blockade around Iranian ports would remain. Iran’s military command on Saturday said the control of the Strait of Hormuz has “returned to its previous state” because of
1 hours ago
Japan has unveiled a new name for days that reach 40C (104F) or above, after the country experienced its hottest summer on record last year. The term - kokushobi - has been translated as "cruelly hot", "brutally hot" or "severely hot" day by Japanese and international media
59 minutes ago
Which method do you typically choose to check the balance in your Employee Provident Fund (EPF) account? For many, the answer would be to visit the official EPFO website, where they enter their UAN, password, and Captcha to access their details. However
59 minutes ago
‘Defeated bill to defend idea of India’: Rahul Gandhi as Oppn blocks women's quota bill in Lok SabhaClaiming that the Opposition blocked the move, Gandhi said, “Every state should have a voice and be free to express its language and protect its traditions.” Updated on: Apr 19
59 minutes ago
Bajaj Chetak is a city-focused electric scooter offered in multiple variants with 2.5 kWh to 3.5 kWh battery options. It comes with 113-153 km range, practical features and funky colours. The Bajaj Chetak range is structured around multiple variants, battery options as well as feature levels
1 hours ago
Progress had been made in negotiations with the United States to end the war, Iran's parliamentary speaker said on Saturday night, but added the sides were still far from an agreement. "We are still far from the final discussion," Mohammad Bagher Ghalibaf, who is also one of Iran's negotiators
1 hours ago
On the afternoon of April 13, as factory workers staged protests across Noida, Uttar Pradesh, to demand better wages, two young professionals saw a striking sight on the street opposite the firm where they work. “It was lunch time and I was on the balcony of my firm’s office
59 minutes ago
Opposition leaders have strongly criticized Prime Minister Narendra Modi's recent national address. They labeled it politically motivated and a breach of democratic conventions, especially given ongoing state elections. Leaders suggested the speech should be counted as a BJP campaign expense due to
1 hours ago
April 18 Birthday Horoscope: Here's what the tarot cards have in store for youIf your birthday falls on April 18, here’s what your year ahead looks like, as per Tarot. Updated on: Apr 18, 2026 11:08 AM IST By Kishori Sud Share via Copy link If you were born on April 18
1 days ago
United States President Donald Trump said that he may not extend the tentative ceasefire with Iran if negotiations fail to produce an agreement by Wednesday, CNN reported. Trump also said that Washington would obtain Tehran’s stockpile of highly enriched uranium one way or another
1 days ago
