The European Union is considering frozen Russian assets as one of the most logical ways to cover Ukraine’s funding gap in 2027.
This was stated by the EU’s High Representative for Foreign Affairs and Security Policy, Kaja Kallas, at a press conference in Luxembourg after a meeting of the EU Foreign Affairs Council, Ukrinform reports.
According to Kallas, EU foreign ministers discussed Ukraine’s future funding shortfall. Many participants in the meeting mentioned frozen Russian assets as a possible way to resolve the problem.
“Because of the funding gap, Ukraine faces difficult times. Since we see no signs that Russia is currently considering any kind of peace, we need to help Ukraine survive, and that means questions arise about where the money will come from,” Kallas explained.
She stressed that it is Russia that must compensate for the damage caused by its aggression.
“And that is why frozen assets are back on the negotiating table,” the EU’s High Representative noted.
She said the discussion would continue, as EU member states need to agree on how risks would be shared if these funds were used.
Kallas emphasised that the issue of frozen Russian assets should not be taken off the agenda while the EU looks for different instruments to cover Ukraine’s financial shortfall.
- The Parliamentary Assembly of the Council of Europe proposes directing frozen Russian state assets towards compensation for Ukraine and Ukrainian victims after the European Court of Human Rights issues rulings in inter-state cases.