Zelensky urges Europe to take decisive action over frozen Russian assets to intensify pressure on Moscow
Ukrainian President Volodymyr Zelensky made a strong call to European governments and diplomatic institutions to make a clear and strategic decision regarding the redistribution and utilization of frozen Russian assets.
Amid ongoing Russian missile attacks on Ukrainian cities, including a recent strike on Kamianske in Dnipropetrovsk region that nearly destroyed the railway station, Zelensky emphasized the urgent need to increase pressure through financial and economic sanctions.
He pointed out that current measures are insufficient to deter Russia’s aggressive actions and urged the West—particularly the US, Europe, and G7 nations—to intensify trade and financial restrictions, especially in energy and finance sectors.
Zelensky stated that the time has come for political decisions on transferring frozen assets to help Ukraine defend itself from Russian aggression.
He expressed confidence that the political will exists but called for technical steps to implement the plan so that these funds can be used effectively in Ukraine’s defense efforts.
Additionally, discussions are ongoing in Brussels this week regarding alternative solutions to the reparations loan for Ukraine, with the European Union considering the reallocation of approximately $140 billion in Russian frozen assets.
However, Belgium, which holds part of Russian funds in its banks, blocked such a decision in October due to concerns over possible obligations to return billions to Moscow following potential legal actions.
This hesitation risks undermining confidence in international financial support for Ukraine, including IMF assistance, potentially complicating economic recovery and military aid.
Experts highlight that converting frozen assets into direct aid or reparations is complex but vital for changing the strategic landscape of sanctions and financial support in the current geopolitical environment.