EU leaders, after discussing at the summit in Brussels, postponed a decision on using frozen Russian assets to help Ukraine
After discussion at a summit in Brussels on October 23, European Union leaders decided to postpone a decision on using frozen Russian assets in support of Ukraine. This is reported in a joint communiqué.
“In accordance with EU law, Russia’s assets should remain frozen until it ceases its aggressive war against Ukraine and compensates for the damage caused”, the adopted conclusions state.
At the same time, the European Council has committed to ensuring the financing of Ukraine’s needs in 2026-2027, in particular in the defense sector.
“The European Council is committed to addressing Ukraine’s urgent financial needs for 2026-2027, in particular regarding its military and defense efforts”, the document states.
The European Commission was called upon to present options for further financial assistance as soon as possible, taking into account the assessment of Ukraine’s real needs. EU leaders agreed to return to considering this issue at the next meeting of the European Council.
According to estimates by the International Monetary Fund, in 2024–2025 the total amount of frozen Russian assets is approximately $300–350 billion. One possible option is for the European Union to use these assets as a “reparation loan” for Ukraine. According to the draft, the loan will be repaid only after Ukraine receives compensation from Russia.
