Europe under fire as Sweden warns of catastrophe? Frozen Russian assets row reveals deep divisions

Sweden’s Minister of Financial Markets, Niklas Wykman, urged Europe to reach an agreement on using frozen Russian assets to support Ukraine, warning that failing to act would create “much worse” consequences for both European security and the economy. Speaking in Brussels before the Economic and Financial Affairs Council meeting, Wykman said the issue must be resolved ahead of next week’s key European Council summit. EU leaders remain divided over a proposed €140 billion “reparations loan” for Ukraine, with Belgium and other states opposing the move over fears of damaging investor confidence. Russia has denounced the plan as illegal.