Ukrainian MPs call on the EU to lead the process of freezing frozen assets of the russian federation

The European Union should lead the process of seizing frozen russian assets to be used for recovery and bringing those responsible for the war to justice.

‘Currently, about 210 billion euros of russian assets are frozen in the EU. We call on the European Union to lead the process of seizing these assets and ensure that they are used to rebuild Ukraine and bring those responsible for our suffering to justice. This is about justice and ensuring that the aggressor pays for the destruction it has caused,’ said Oleksandr Merezhko, Chairman of the Verkhovna Rada Committee on Foreign Policy and Interparliamentary Cooperation.

Ukraine's budget deficit for 2025 will reach 38 billion euros. In this regard, the G7's commitment to provide Ukraine with a USD 50 billion loan to begin disbursements in December 2024 is a critical financial support, but the scale of the challenge requires more.

French MEP Nathalie Loiseau commented on the Ukrainian side's proposals. In her opinion, the frozen russian funds should be used as a loan to Ukraine to buy weapons.

‘We know that Ukraine needs much more military assistance and much more money to be able to buy or produce the necessary weapons. And we have the opportunity to provide Ukraine with a loan in the amount of these frozen assets, in the amount of $300 billion,’ Loizeau said.

In her opinion, such countermeasures are quite legitimate during the aggressive war waged by russia.

‘We have been told that this could be financially threatening for the Eurozone, but if we do not confiscate assets but provide Ukraine with a loan, I think it is quite possible,’ she added.

Source: Ukrinform