russia’s “frozen” assets: why Ukraine may not get them
25 February 2025 18:50
France, Germany, Italy, Spain and European Commission President Ursula von der Leyen have not supported the proposal to confiscate Russian frozen assets to transfer the funds to Ukraine. This was reported by Politico, citing its own sources, "Komersant Ukrainian" reports.
At the same time, the Czech Republic, Poland and the Baltic States supported the initiative to seize Russian funds.
Media notes that such a move could scare away international investors and weaken the EU’s position in negotiations on the Russia-Ukraine war.
What preceded it
on February 25, 2025, British Foreign Secretary David Lammy called on European countries to move from freezing Russian assets to confiscating them. Speaking in Parliament, Lemmy noted the need for collective action among European allies and international partners to implement this measure. He noted that the issue has already been discussed within the G7 and with other international allies. Lemmy emphasized that Europe must act quickly and decisively in this direction.
However, there is no consensus within the European Union on this issue. A number of countries, including France, Germany, Italy and Spain, as well as European Commission President Ursula von der Leyen, have expressed fears that confiscating frozen Russian assets could scare foreign investors away from the EU. French President Emmanuel Macron said that seizing these assets is against international law and therefore impossible. He emphasized that such actions could undermine confidence in the legal system and investment climate in Europe.
Estonia, on the contrary, is actively promoting the idea of confiscating frozen Russian assets to support Ukraine. Estonian Foreign Minister Margus Tsahkna has submitted a paper to this effect for discussion at the upcoming meeting of EU foreign ministers in Brussels. Tsahkna argues that it is time to move from asset freezing to full asset seizure in order to use the funds to rebuild Ukraine. However, some EU countries such as Germany, France and Belgium have expressed concerns about possible legal challenges and risks to the status of the euro.
At the same time, Russia is considering ceding $300 billion worth of frozen assets as part of a settlement with Ukraine. However, Moscow insists that part of these funds should be used ostensibly to restore regions of Ukraine that are under temporary occupation under the control of the Russian Armed Forces. These proposals were discussed during preliminary talks between Russia and the US in Riyadh aimed at ending hostilities in Ukraine.
Thus, the issue of the fate of frozen Russian assets remains the subject of active international discussions. Now there are different opinions and approaches to their possible confiscation and use to support Ukraine.
