The European Union has been actively exploring ways to utilise frozen Russian assets more effectively.
That has come amid ongoing discussions regarding support for Ukraine and maintaining sanctions against Moscow.
Vice-President of the European Commission and EU foreign policy chief Kaja Kallas noted on January 22 that EU officials were exploring “what more might be done with Russian assets frozen inside the bloc”.
While the EU currently uses profits from these assets to aid Ukraine, there is growing debate over whether they could be repurposed to support Ukraine’s reconstruction or bolster Europe’s geopolitical leverage.
Kallas emphasised the bloc’s leading role in providing aid to Ukraine and called for Europe to have a central position in any future peace negotiations.
Her remarks also addressed criticisms by US President Donald Trump, who has claimed that Europe lagged behind his country in contributions to the Ukraine war effort.
“By my account, we have given more than €134 billion to Ukraine. That makes us the biggest international donor,” Kallas said, rebutting Trump’s claims.
She insisted that the EU’s contributions underlined its right to a play major role in shaping the post-war order.
Kallas expressed concern over what she feared may be potential US unilateralism in peace talks with Russia, saying: “Whatever negotiation or agreement there is between Russia and Ukraine, that also concerns Europe. ‘Nothing about Europe without Europe’ is the main thing here.”
Internal disagreements have tested the EU’s unity on sanctions against Russia, with Hungary resisting further moves until consultations have taken place with the US administration.
Nevertheless, Kallas expressed optimism that the bloc would maintain its stance.
“I see no reason to weaken or release the sanctions now,” she said. “We have always reached unity in the past and I’m confident we will do so again.”
EU to fund aid to Ukraine with €1.4 billion of frozen Russian assets. https://t.co/FOh7PITXRO
— Brussels Signal (@brusselssignal) June 25, 2024
