EU nations urge use of frozen Russian assets for Ukraine

frozen Russian assets Ukraine financial aid European Union policy Euroclear war reparations

Poland, Sweden, the Netherlands, and Spain have issued a joint appeal to the European Union to find new ways to utilize approximately 210 billion euros in frozen Russian central bank assets to support Ukraine. The four nations argue that the existing EU-backed loan of 90 billion euros, scheduled for 2026 and 2027, will be insufficient to meet Kyiv's growing short-term and long-term financial and defense needs.

The initiative seeks to shift the financial burden of the war from European taxpayers to the aggressor. Most of the frozen assets, roughly 185 billion euros, are currently held at Euroclear in Belgium. While the group advocates for increased use of these funds, the proposal faces legal hurdles; Belgium has previously expressed concerns regarding the lack of legal protection against potential Russian lawsuits.

Ukrainian Foreign Minister Andrii Sybiha has welcomed the move, stating that it is logical for Russian assets to cover the costs of defense and reconstruction. The matter is expected to be discussed during the upcoming meeting of EU foreign ministers in Ireland.

Entities

Euroclear · European Commission · European Union · Kaja Kallas · Russia · Ukraine

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] Ukrainian Foreign Minister Andrii Sybiha expressed support for the initiative, arguing that Russia should pay for its own aggression. radiomoldova.md · moldova1.md
[● 9 SOURCES] Poland, Sweden, the Netherlands, and Spain have requested the EU to explore new methods for using frozen Russian assets to fund Ukraine. opserver.mk · dzienniknarodowy.pl · www.realtid.se · polityka.co.pl · radiomoldova.md · +4 more
[● 9 SOURCES] The previously agreed EU loan of 90 billion euros for 2026–2027 is deemed insufficient to meet Ukraine's financial needs. opserver.mk · dzienniknarodowy.pl · www.realtid.se · polityka.co.pl · radiomoldova.md · +4 more
[● 2 SOURCES] Belgium has previously opposed using these assets due to concerns regarding legal risks and potential Russian lawsuits. opserver.mk · www.metropoles.com
[● 6 SOURCES] Approximately 210 billion euros of Russian central bank assets are frozen in the EU, with 185 billion euros held at Euroclear in Belgium. opserver.mk · www.realtid.se · defence24.pl · euractiv.com · pt.euronews.com · +1 more