Polish PM Donald Tusk signed a Ukraine‑aid proposal urging the EU to use €140 billion of frozen Russian assets for a reparations loan.
Appeal of European Countries
Letter sent to EU Council President Antonio Costa and Commission President Ursula von der Leyen calls for immediate use of frozen Russian assets to fund a reparations loan to Ukraine. It stresses that Russia’s aggression poses an existential threat to Europe and frames supporting Ukraine as a moral and national interest.
Signatories include Estonia’s Prime Minister Kristen Michal, Finland’s Petteri Orpo, Ireland’s Michael Martin, Latvia’s Evika Silina, Lithuania’s President Gitanas Nausėda, Sweden’s Prime Minister Ulf Kristersson, and for Poland, Donald Tusk.
EU on Russian Assets
The European Commission earlier warned that Kyiv needs financial support to avoid severe economic hardship. It proposed a reparations loan of €140 billion, financed from frozen Russian assets, which is currently blocked by Belgium.
Frozen assets of the Russian Central Bank are held at Belgium-based Euroclear. Euroclear’s director opposes transferring them to Ukraine. Euroclear’s head, Valerie Urbain, suggested using the assets as a bargaining chip in peace negotiations, warning that failure could affect global markets.
Russia Responds to Frozen Asset Proposal
Russia’s Foreign Ministry spokeswoman Maria Zacharowa warned of retaliation if the EU exploits frozen assets. The ministry criticised the EU proposal as “abnormal,” noting it would involve €185‑€210 billion that Ukraine would owe after the war if Russia pays compensation for wartime destruction.
Zacharowa did not specify retaliatory measures, but earlier Russia blocked foreign investors from withdrawing funds invested in Russia following asset freezes.