How Europe Is Trying to Turn Frozen Russian Assets Into Cash for Ukraine NYT | Top Stories By: Jeanna Smialek 23 October 2025 at 13:54 European Union officials could reach a political agreement as soon as Thursday on a plan for a huge loan to Ukraine backed by Kremlin money frozen in a Belgian financial institution. © Tyler Hicks/The New York TimesA destroyed building in Druzhkivka, Ukraine, earlier this month.