Zelensky Urges EU to Unlock Frozen Russian Assets to Fund Ukraine’s Defense
BRUSSELS — Ukrainian President Volodymyr Zelensky on Thursday called on European Union leaders to approve a plan to use billions of euros in frozen Russian assets to help fund his country’s defense against Moscow’s invasion.
As EU leaders gathered in Brussels, Zelensky urged them to make a “positive political decision” on the proposal, which would tap into roughly €140 billion held in a Belgian clearing house, assets frozen under EU sanctions following Russia’s full-scale invasion.
“Russia brought war to our land, and they have to pay for this war,” Zelensky said, underscoring Kyiv’s growing frustration as Western funding slows and the conflict grinds on.
The plan, dubbed a “reparations loan” faces significant legal hurdles. Belgium, where the clearing house Euroclear is based, has been hesitant to endorse the move, fearing liability if Moscow challenges the decision in international courts. EU foreign affairs chief Kaja Kallas acknowledged “some issues” but said the moral and political case was clear: “Russia is responsible for the damage in Ukraine and must pay.”
The renewed push came as the EU imposed fresh sanctions aimed at cutting off Kremlin oil revenues, mirroring new U.S. measures that targeted Russian energy giants Rosneft and Lukoil.
In Moscow, President Vladimir Putin dismissed the U.S. sanctions as “serious but not critical,” while warning Washington against supplying Tomahawk cruise missiles to Ukraine, saying any strikes on Russian soil would trigger a “very strong” response.
Meanwhile, U.S. President Donald Trump confirmed that a planned Budapest summit with Putin was indefinitely postponed, saying peace talks were “not going anywhere.”
As Europe debates how to make Russia “pay for the war,” the question now is not only when Ukraine will receive the funds but whether Europe has the political will to unlock them.
