MEPs push to use frozen Russian assets to support Ukraine
Lawmakers say a new EU mechanism could shield Belgium from legal risk while unlocking about €200 billion in frozen Russian reserves for Ukraine.
- More than 100 MEPs urged European Union leaders on Wednesday to reopen talks on using frozen Russian assets to support Ukraine, citing Kyiv's €23 billion defence funding shortfall.
- Previous attempts to unlock funds collapsed at a Brussels summit due to legal concerns held by Belgium, where Prime Minister Bart De Wever feared litigation risks as Belgium hosts Euroclear, the assets' primary custodian.
- The MEPs' letter suggests "transferring the assets into a new EU instrument that would assume the legal obligations towards Russia." The estimated cost of Russian destruction already exceeds €600 billion.
- Addressed to European Commission President Ursula Leyen, Kaja Kallas, Commissioner for Economy Valdis Dombrovskis, European Council President António Costa, and Irish Taoiseach Micheál Martin, the letter demands a new proposal to overcome member state objections.
- Despite a €90 billion loan approved by the European Union earlier this year, MEPs argue it remains insufficient, while countries including Italy, Bulgaria and Malta continue to express concerns regarding the immobilised assets.
33 Articles
33 Articles
The European Commission is reviewing options for using frozen Russian assets in the European Union to provide financial support to Ukraine, as the talks come amid mounting pressure on European budgets and Kiev's funding needs.
EU lawmakers renew push to seize frozen Russian assets as Ukraine faces its toughest winter yet with a €23 billion defense funding gap
A cross-party group of 122 MEPs is pressing EU leaders to revive plans to turn more than €200 billion in immobilized Russian assets into support for Kyiv.
As Russia continues its attacks on Ukrainian civilians and Kyiv faces financial challenges, there are growing calls in Brussels to release frozen Russian funds. A large number of members of the European Parliament, including Lithuania, have joined the pressure.
Ukraine’s financial crisis resurrects Europe’s bitter dilemma on Russian frozen assets
The dire financial situation of Ukraine, ahead of what is expected to be a difficult winter with a possible further Russian mobilisation, has reopened the discussion on whether to use Russian frozen assets — raising difficult questions over legality, financial stability and Europe’s leverage in any future peace deal.
Members of the European Parliament have called on the EU to revisit the issue of using frozen Russian assets to aid Ukraine
The proposal involves creating a special European mechanism to share legal risks among EU member states and transferring the proceeds to Ukraine as a loan secured against future Russian...
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