Using $300 Billion Russian Frozen Assets To Pay For Ukraine War Losses
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KYIV, UKRAINE – MAY 10: (left to right) Poland’s Prime Minister Donald Tusk, Ukrainian President Volodymyr Zelensky, British Prime Minister Sir Keir Starmer, French President Emmanuel Macron, Ukrainian President Volodymyr Zelensky’s wife Olena Zelenska and German Chancellor Friedrich Merz in Maidan Square in Kyiv as European leaders meet in Ukraine for further talks on the so-called “coalition of the willing” on May 10, 2025 in Kyiv, Ukraine. (Photo by Stefan Rousseau – WPA Pool/Getty Images) Getty Images For nearly three years, European leaders have discussed how to unlock Russian frozen assets held in Western banks to support Ukraine’s defence and rebuilding efforts. Each time, the plan neared agreement—only to stall just before the finish. Now, with Donald Trump back in the White House and U.S. aid halted, Europe faces a critical choice it can no longer delay. The Reparations Loan European Commission President Ursula von der Leyen is seeking a way to convert Russian frozen assets into war reparations for Ukraine. (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images) AFP via Getty Images European Commission President Ursula von der Leyen has proposed a €140 billion “Reparations Loan” for Ukraine—secured by immobilized Russian central-bank assets mainly held at the Belgian depository Euroclear. The reasoning is convincing: Russia’s invasion caused severe damage, its reserves remain inactive under Western control, and Ukraine’s survival depends on new financing. But Belgium, where Euroclear is located, is hesitating. Brussels fears being left legally and financially vulnerable if Moscow sues for expropriation. That dispute—over who bears Europe’s collective liability—has delayed the only policy capable of keeping Kyiv solvent and sustaining support through 2026. The Scale of the Freeze Since Russia’s full-scale invasion in February 2022, the West has frozen an estimated $335 billion in Russian sovereign and private assets—cash, bonds, equities, real…
Filed under: News - @ October 23, 2025 10:26 pm