European Union envoys are fine-tuning a plan to use frozen Russian assets as collateral for a massive loan to support Ukraine over the next two years

The European Union on Friday indefinitely froze Russia’s assets in Europe to ensure that Hungary and Slovakia, both with Moscow-friendly governments, can’t prevent the billions of euros from being used to support Ukraine.

The European Union may move to freeze Russian assets in Europe as Ukraine continues to fight a bloody war against Russia, Reuters reports. CBS News' Ramy Inocencio reports.

Belgium is blocking Ukraine money, France is delaying a trade deal and EU leaders have two days to fix both problems — or work through the weekend trying.

Amid reports that the U.S. is pressing EU countries not to hand billions in frozen Russian assets over to Ukraine, the European effort to release the funds appears to be increasingly fragile.

European Commission President Ursula von der Leyen has said that the EU is preparing a new package of sanctions against Russia. Source: statement by von der Leyen posted on the official European Commission website Details: The statement noted that the EU is working on every step that will ultimately put an end to the bloodshed.

The latest proposal is designed to deter future Russian aggression. But Russia is not part of the talks and has shown little willingness to negotiate.