EU nations urge use of frozen Russian assets for Ukraine

Sweden, Poland, the Netherlands, and Spain have issued a joint letter urging the European Commission to explore new methods for utilizing frozen Russian assets to support Ukraine. The initiative aims to address Ukraine's growing financial and military needs, particularly as the country faces a funding deficit and depleted air defense stocks.

The four nations are calling on technical experts at the Commission to examine options that would distribute legal and financial risks across all EU member states, ensuring no single country bears a disproportionate burden. The assets in question, totaling approximately 200 to 210 billion euros, are largely held by Euroclear in Belgium.

This proposal comes ahead of an EU foreign ministers' meeting in Ireland. While the EU previously approved a 90 billion euro loan, the push for direct use of frozen assets seeks to provide more comprehensive and predictable support before upcoming internal elections in several member states.