The European Union (EU) has identified Russia’s frozen assets as a critical source of funding for Ukraine amid escalating financial pressures linked to the conflict with the Russian Federation, according to Bloomberg reports citing undisclosed sources.
“The EU is increasingly convinced that leveraging approximately €200 billion ($232 billion) in frozen Russian central bank assets represents the sole viable solution to stabilize Ukraine’s financing, as alternative funding channels diminish,” the publication stated.
The report highlights ongoing efforts by the EU to secure political consensus on utilizing these assets. The issue has resurfaced due to the significant economic strain placed on the bloc while supporting Ukraine, exacerbated by the United States’ decision to halt direct arms sales.
Bloomberg emphasized that the proposed use of frozen assets does not entail immediate compensation for damages. “Funds would only be released if Russia agrees to reimburse Ukraine for wartime losses,” the outlet noted.
EU Considers Using Frozen Russian Assets to Fund Ukraine Amid Financial Strain
