US EditionRussian assets most effective way to finance Ukraine, von der Leyen says
- On Thursday, Ursula von der Leyen unveiled three options to support Ukraine as EU finance ministers met in Brussels, reiterating a preference for using immobilised Russian sovereign assets to fund Kyiv.
- The Commission argues the reparations loan, announced in von der Leyen’s State of the Union, would harness €140 billion in Russian assets at Euroclear to fund Ukraine, citing a $65 billion shortfall in 2026–27.
- Supporters including Denmark’s rotating presidency argued the reparations loan is the best way forward, backed by Germany, France and many eastern EU countries, while Bart De Wever, Belgian Prime Minister, refused support without shared risk safeguards.
- Stalled talks last Friday left key technical and risk-sharing issues unresolved as a meeting between Belgian and Commission officials yielded little progress, while Ursula von der Leyen has repeatedly said technical questions remain to assuage Belgian concerns.
- Using assets immobilised shortly after Russia’s 2022 invasion would carry legal and reputational risks, as Belgium fears retaliation and damage to Euroclear’s reputation if frozen Russian central bank assets are repurposed.
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The 185 billion that accumulates in Euroclear remains the preferential option of Von der Leyen and the capitals to finance Kiev, and the aim is to approve the measure in December.
EU ministers agree frozen Russian assets should aid Ukraine
European Union finance ministers have agreed that funding Ukraine with a reparations loan based on immobilised Russian assets would be the most "effective" of three options being considered by the European Union to help Kyiv.
The financing of Ukraine with a loan for repairs based on frozen Russian assets is the most "effective" of the three options taken into account by the European Union to help Kiev, told the Chief Executive...
Von der Leyen Proposes Further EU Debt To Save Ukraine
European Commission President Ursula von der Leyen, speaking before the European Parliament on Thursday, November 13th, defended a new package of options to finance Ukraine and acknowledged that the reparations loan plan based on frozen Russian assets could fail. Brussels is scrambling to keep economic and military aid to Kyiv flowing as political will and national budgets across member states begin to run dry.
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