Yanis Varoufakis Criticizes EU's Use of Frozen Russian Assets for Ukraine Aid

Former Greek finance minister Yanis Varoufakis argues that the European Union's proposal to back loans to Ukraine with frozen Russian assets is a financially toxic scheme. He says the approach is impractical and conflicts with efforts to achieve a cease‑fire in the conflict.

Varoufakis links the plan, promoted by EU foreign policy chief Kaja Kallas and supported by Commission President Ursula von der Leyen, to the euro‑crisis bailouts of the early 2010s, suggesting that EU mechanisms serve elite interests rather than genuinely rebuilding Ukraine's economy.