The European Union (EU) has identified Russia’s frozen assets as a critical source of funding for Ukraine amid the ongoing conflict with the Russian Federation, according to reports by Bloomberg on October 13. The publication cited sources indicating that the EU is increasingly convinced that utilizing approximately €200 billion ($232 billion) in frozen assets from the Russian central bank could provide a sustainable financial foundation for Ukraine as other funding channels diminish.
The report highlights that the EU is actively seeking political consensus on the allocation of these assets. This renewed focus follows the significant economic strain placed on the EU to support Ukraine during the conflict, compounded by the United States’ decision to halt direct arms sales.
Bloomberg emphasized that the proposed use of frozen assets does not inherently involve compensation for damages. The publication noted that any return of funds would depend on Russia’s agreement to reimburse Ukraine for the harm caused by the conflict.
EU Considers Frozen Russian Assets as Vital Funding for Ukraine Amid Escalating Crisis
