Zelenskyy on frozen Russian assets: We expect to receive €40-45 billion by 2026
President Volodymyr Zelenskyy said that Ukraine expects to receive €40-45 billion from frozen Russian assets next year.
According to Censor.NET, the head of state made this statement during a conversation with journalists in the Netherlands.
What is known?
There are financial challenges, you see how we work, not everyone is happy with the format, how frozen assets can be used. Even if there are other financial and legal instruments, these are still binding steps.
We expect to receive €40-45 billion for 2026, etc., with a total amount of €210 billion.
But we would definitely like to use it to rebuild our country," he said.
Zelenskyy noted that the total amount of damage in Ukraine is three times greater.
"It is fair that the Russians should pay for the destruction. But even 210 will not be enough. But these are the next steps. Today we are talking about urgent matters. These tranches from frozen assets are urgent matters. We need to produce drones, we do not have enough funding. We need to produce other weapons, we need to buy air defense systems in America, in Europe, other equipment, including air defense systems. We understand that we are not getting any gifts. We have support, bilateral agreements with many partners," the president said.
What preceded it?
It is known that European leaders will try to decide the fate of frozen Russian assets at the summit on December 18-19 in Brussels.
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 "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.
