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Zelenskyy and von der Leyen discussed use of frozen Russian assets to defend Ukraine
President Volodymyr Zelenskyy held talks with European Commission President Ursula von der Leyen.
Zelenskyy announced this on his Telegram channel, according to Censor.NET.
Support for Ukraine
"I thanked Ursula for her clear position and messages in support of Ukraine during her speech today in the European Parliament. We share the same view: as long as Russia continues to reject all peaceful efforts, sanctions against it must be increased, and defense and financial assistance to Ukraine must continue," the statement said.
What did you talk about?
The parties discussed the current diplomatic situation and the European Union's work on a decision regarding the use of frozen Russian assets to defend Ukraine.
Zelenskyy and von der Leyen also coordinated their contacts for the near future.
Russian assets to help Ukraine
- 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 "reparation 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.
