Zelenskyy called on EU to use frozen Russian assets: This is matter of Ukraine’s survival
President Volodymyr Zelensky called on the European Union to make a decision as soon as possible on the use of frozen Russian assets to support Ukraine. According to him, these funds are critical for maintaining the economic stability and defense capabilities of the state.
According to Censor.NET, citing RBC-Ukraine, he said this in an interview with Bloomberg Television.
According to the president, financial support is critically needed for Ukraine to sustain its economy and continue fighting against Russian aggression.
Ukraine will seek an alternative
"I hope we will get this decision. Otherwise, we will have to look for an alternative—it is a matter of our survival. Therefore, we really need this. And I am counting on our partners," Zelenskyy said.
The EU has postponed its decision on the use of Russian assets until December
Earlier, the EU postponed until December its decision on the use of Russian state assets to provide Ukraine with loans totaling around €140 billion. Kyiv needs the funds at the beginning of next year.
EU Commissioner for Economic Affairs Valdis Dombrovskis recently warned that without reliable financial commitments from Europe, the IMF would not be able to unlock a new aid package for Kyiv, which could amount to around $8 billion.
It is Russia that must pay for the war
"Russia must pay for this war," says Zelenskyy.
According to Zelenskyy, the money from frozen assets will help Ukraine purchase more air defense equipment from the US and Europe and finance the production of drones to strike Russian targets.
The Ukrainian leader also appealed to US President Donald Trump, who is preparing to return to the White House, to send a "signal" to European leaders to take more active measures.
"The US has frozen more than five billion dollars of Russian assets—perhaps he will decide to spend that money. That will help. When the US imposes tough sanctions, European partners usually take more active measures as well," Zelenskyy concluded.
Russian assets to help Ukraine
- We would like to remind you that earlier, European Commission President Ursula von der Leyen proposed using frozen Russian assets as collateral for providing Ukraine with "reparation loans." Formally, Russian assets subject to sanctions will not be confiscated, but Ukraine will repay such loans only after Russia pays reparations.
- According to various estimates, the European Union's "reparations loan" to Ukraine, secured by Russian assets, could amount to €130-140 billion. Its final size will be determined after the International Monetary Fund assesses Ukraine's financing needs in 2026 and 2027.
- In total, Euroclear currently holds more than €175 billion in cash from frozen Russian assets, which could be used to secure a new loan. But before the EU agrees to grant a reparations loan, it will want to repay the G7 loan to Ukraine of €45 billion ($50 billion) agreed last year, which was to be repaid from the proceeds of frozen Russian assets.
