Polish Prime Minister Donald Tusk signed a European‑wide proposal urging the use of frozen Russian assets to finance a reparatory loan for Ukraine.
European Appeal for Using Frozen Russian Assets
A letter addressed to European Council President Antonio Coste and European Commission President Ursula von der Leyen urged the rapid deployment of funds from frozen Russian assets for a reparatory loan to Ukraine. The writers described Russia’s aggression as an existential threat to Europe and said supporting Ukraine’s freedom is both a moral duty and in European interest.
The document was signed by Estonia’s Prime Minister Kristen Michal, Finland’s Prime Minister Petteri Orpo, Ireland’s Prime Minister Micheál Martin, Latvia’s Prime Minister Evika Silina, Lithuania’s President Gitanas Nausėda, Sweden’s Prime Minister Ulf Kristersson, and, on behalf of Poland, Prime Minister Donald Tusk.
EU’s Proposal to Finance the Loan from Frozen Assets
The European Commission has previously warned that Kyiv must receive financial support or face severe consequences. It proposed a reparatory loan of €140 billion funded by frozen Russian assets, a measure currently blocked by Belgium.
Frozen Russian Central Bank assets are held on the accounts of Belgian settlement firm Euroclear. Its head has opposed passing these assets to Ukraine, suggesting instead that they serve as leverage in peace negotiations. Valérie Urbain of VRT proposed using the assets as a bargaining tool for ending the war.
Russia’s Response to the Use of Its Frozen Assets
The Kremlin warned of retaliation if the European Union uses Russia’s frozen assets. Russian Foreign Ministry spokeswoman Marija Zacharova described the EU’s proposal as “unnormal” and criticized the idea of using others’ funds for a reparatory credit. Russian media indicated that €185–210 billion could be involved, which Ukraine would be expected to repay after the war when Russia settles war reparations.
Zacharova did not specify the retaliatory measures Russia might take, but previously blocked foreign investors from withdrawing funds invested within the Russian Federation following the West’s freeze of Russian assets.
