President Zelenskyy appealed to European leaders to make a decision on frozen Russian assets as soon as possible. He emphasized that the proposed mechanism is legal and fair, and the funds can be used to purchase weapons and strengthen Ukraine's defense.
Ukrainian President Volodymyr Zelenskyy addressed those who are "delaying the decision" regarding frozen Russian assets that they want to use for an EU "reparation loan" for Ukraine, stating that the proposed solution is "completely legal and fair," and called for a decision to be made as soon as possible, which he reported to European leaders at the EU summit, UNN writes.
Frozen Russian assets. The proposed mechanism is completely legal and fair. This is a model based on the idea of future reparations – holding the aggressor accountable for the damage caused
– said Zelenskyy.
And, he noted, addressing EU leaders, "it is important to understand that you have huge funds in your hands that can support, truly support Ukraine's resilience, and also contribute to your own development." "We plan to use a significant part of these funds to purchase European weapons. This is important to me. And these funds can help both you and us. They can also be used now to strengthen us: to strengthen Ukraine's air defense, air fleet, positions on the front line. This means saving lives," the Head of State continued.
Therefore, everyone who delays this decision not only limits our defense but also slows down their own progress. It's time to act on Russian assets. And I urge you to give your full support
– Zelenskyy pointed out.
"When we talk about frozen Russian assets, they should be used in such a way that Russia understands: it is paying for its own war. Therefore, I ask you to make a decision as soon as possible – Russian assets must be fully used to protect against Russian aggression," the President emphasized.
Addition
His statement came after, in particular, Belgian Prime Minister Bart De Wever's critical stance at the beginning of the European summit in Brussels on the idea of using Russian assets held in Euroclear in Brussels to pay for aid to Ukraine.
The European Commission previously proposed using Russian central bank assets frozen in the Belgian central securities depository Euroclear in response to the war to finance a "reparation loan" for Ukraine.
Previously, the figure of 140 billion euros was mentioned. However, the press learned about a possible additional 25 billion.
According to Vladyslav Rashkovan, Deputy Executive Director from Ukraine at the IMF, the EU's reparation loan to Ukraine of 140 billion euros based on frozen Russian assets could provide 40 billion euros (46 billion dollars) out of the 60 billion dollars of unmet budget financing needs of Ukraine in 2026-2027, while the remaining 100 billion euros will go to military needs.
