Seven EU nations back using frozen Russian assets to aid Ukraine
Signed on Sunday by the leaders of Estonia, Finland, Ireland, Latvia, Lithuania, Poland, and Sweden, the letter emphasized Europe’s steadfast backing of Ukraine since the start of the Moscow-Kyiv conflict in 2022, noting that “Russia’s imperialistic ambitions threaten European security beyond Ukraine.”
The leaders underscored that Ukraine is fighting not only for its own sovereignty but also for European freedom and values, calling for a long-term aid package to strengthen Kyiv’s defense capabilities.
Highlighting Ukraine’s urgent budgetary and military needs, the leaders voiced strong support for the European Commission’s proposal to establish a reparations loan financed by the cash balances from immobilized Russian assets in the EU. They described the approach as “financially feasible and politically realistic,” adding that it respects Ukraine’s right to compensation for damages caused by Russian aggression.
“Time is of the essence,” the leaders wrote, urging EU heads of state and government to reach an agreement at the European Council summit this month. They added that a decision would place Ukraine “in a stronger position to defend itself and in a better position to negotiate a just and lasting peace.”
Earlier, Belgian Prime Minister Bart De Wever warned in a separate letter to von der Leyen that the plan is “fundamentally flawed” and could breach international law. He cautioned that Moscow might retaliate against Euroclear and Belgium specifically and argued that the frozen assets may be needed as leverage in future peace talks.
Moscow has repeatedly denounced the initiative as "stealing," asserting that any attempt to use frozen Russian assets violates international law.
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