EU rejects immediate confiscation of Russian assets for Ukraine, but leaves door open for future use

She shared the information on Espreso TV.

"It’s no secret that major EU countries opposed touching Russia’s frozen assets and using them now, for example, to purchase weapons for Ukraine. First and foremost, Europeans fear for the stability of their financial system. Belgium is particularly affected, as nearly €200 billion of Russian assets are frozen on its territory. If these assets are seized, Belgium will suffer the most since it could impact the trust of other investors who keep their money in the country," Vysotska explained.  

She highlighted an interesting aspect: Belgium collects an annual fee of nearly 20% on these frozen Russian assets, in addition to the interest, amounting to over €3 billion per year. These funds are used exclusively for aiding Ukraine.  

"As for the EU's refusal to confiscate frozen Russian assets for Ukraine’s benefit, that’s not entirely true. Following the EU leaders' meeting on March 20, reports emerged suggesting that the European Council had rejected the idea of using these assets for Ukraine. In reality, this is not the case. The final document states that the assets must remain frozen until Russia ends its aggression against Ukraine and pays compensation. So, it’s not entirely bad news – Europe has made it clear that while these assets won’t be unfrozen in the early negotiation stages, there is a chance they could be utilized after the war," Vysotska concluded.

• EU leaders have stopped discussions on the possibility of confiscating frozen Russian assets in the EU, believing that the assets should remain immobilized.