European leaders aim to endorse controversial plans to use Russian frozen assets to support Ukraine at a meeting in Brussels on Thursday.
The unprecedented proposal for what the EU has dubbed a “reparations loan” would see Kyiv receive €140bn (£121bn) worth of frozen Russian state assets currently held by Euroclear, a Belgium-based financial institution.
While it might seem a good idea, long term it will boost Brics and the search for an alternative financial system, one not dominated by The West.