The Netherlands wants to bring back the discussion within the EU regarding the use of approximately €210 billion in frozen Russian assets to finance Ukraine's defense and support Kyiv in the war against the Russian Federation. The initiative has already been discussed by EU finance ministers during a closed-door meeting in Brussels. This was reported by Politico, according to UNN.
Details
According to the publication, the issue was raised by Dutch Finance Minister Eelco Heinen during a meeting of the EU Economic and Financial Affairs Council (Ecofin).
The discussion concerns the possibility of using frozen Russian assets worth up to €210 billion for further support of Ukraine, particularly in 2027.
As Politico notes, returning to this discussion could once again spark serious disputes within the EU. At the end of last year, Belgium actively opposed such ideas, as approximately €185 billion of Russian assets are held in the Brussels-based Euroclear depository.
Belgian authorities fear potential lawsuits and an economic response from Moscow in the event of asset confiscation.
In addition to Belgium, concerns regarding the use of Russian assets were previously expressed by France, Italy, Bulgaria, and Malta. The European Central Bank also warned of risks to the credibility of the eurozone and the international financial system.
At the same time, the article notes that the €90 billion aid package for Ukraine already agreed upon by the EU may be insufficient. The loan program covers only about two-thirds of Ukraine's projected budget deficit through 2027.
According to Politico, the European Commission is also trying to persuade Canada, the United Kingdom, Japan, and the United States to provide additional funding for Ukraine. However, it remains unclear whether Donald Trump's administration will support new aid.
The Netherlands emphasizes that the country's position aligns with the European Council decision adopted last December. It stipulates that Russian assets will remain frozen until reparations are paid to Ukraine, and the EU reserves the right to use these funds in accordance with international law.
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