EU officials stormed at Donald Trump and his envoy Steve Witkoff’s proposal to leverage €140 bn of frozen Russian assets for Ukraine, fearing it would derail a €27‑nation loan at next month’s summit.
Trump’s Proposal Throws Europe into Chaos
Politico reported that Donald Trump “threw a grenade” into ongoing European negotiations by unveiling a plan to use frozen Russian assets for Ukraine, prompting a unified European response.
Using €140 bn of Frozen Russian Assets
For months the EU has sought a way to tap the €140 bn of Russian state assets parked mainly in Belgium to fund a reparatory loan for Ukraine, a loan that European leaders aimed to finalize at next month’s summit.
High‑Level EU Condemnation
An ex‑French official called Steve Witkoff’s plan “scandalous,” noting that, although Europe is working to use the assets for Ukrainians, Trump simply seeks to profit. A senior Brussels official dismissed the idea outright, remarking that Trump has no authority to unfreeze the assets, and a top European politician said Witkoff “needs a psychiatrist.”
Impact on the EU Reparatory Loan
Some EU officials argued that the U.S. plan threatens to halt progress on the reparatory loan, as Trump’s push to unfurl assets could leave European taxpayers responsible for Russia’s debts. The notion of the U.S. earning profits on assets in Europe was described as “classic Trump.”
Ukraine Holds Consultations with the U.S.
Ukraine’s Secretary of National Defense and Security, Rustem Umierow, said a Swiss meeting would discuss terms for a future peace agreement, with the delegation led by Presidential Chancellery head Andrij Jermak and including high‑ranking security officials. The Ukrainian government reaffirmed that it will not obstruct peace and that delegations will defend Ukrainian national and European security interests.
G20 and EU Discussions on Ukraine Aid
The U.S. plan will also be debated at the G20 summit in Johannesburg, with representatives from the EU, France, Germany, the UK, Canada, and Japan in attendance. EU Commission Chair Ursula von der Leyen and Council of the EU Chair Antonio Costa are slated to speak, and the EU has called a special summit on the issue. An extraordinary meeting of the 27 member leaders is scheduled in Angola next week ahead of the EU‑Africa summit.