🔗 Share this article Zelenskyy Urges European Union to Use Frozen Russia's Resources for Ukrainian Defense Support In the midst of continuing summit negotiations, Ukrainian President has urged European Union leaders to execute measures employing immobilized Russia's assets to fund Ukraine's military campaign "without delay". Urgent Decision Required Addressing EU officials in the EU capital on Thursday, the Ukrainian leader highlighted the vital need to completely employ Russian funds for the nation's security against continuing aggression. "Those who postpones this resolution is not only hampering our defense but also hindering your own development," he declared, assuring that the country would allocate substantial money in buying EU-made military equipment. EU Funding Initiative EU officials are currently considering initiatives to support an interest-free loan for the country guaranteed by Russia's state assets, which were blocked immediately after the comprehensive military incursion. The European Commission has proposed a 140-billion-euro non-interest loan, with potential directives to prepare comprehensive juridical documentation seeking to finalize the plan by the end of the year. International Reactions Russian authorities has labeled the plan as "appropriation" and has vowed to target any entities or countries considered to have appropriated Russian funds. The Belgian government, which hosts substantial Russian assets at the financial institution, accounting for 86% of all Russia's government assets within the European Union, has raised concerns about the proposal. "When you want to implement this, we will have to move together," declared the Belgian leader, emphasizing the need for guarantees that all European nations would cover the expenses if Moscow tried to recover its funds. International Coordination About one-third of Russia's state assets are held beyond the European Union, including in Japan (28 billion euros), the United Kingdom (27 billion euros), the North American country (15 billion euros) and the America (€4 billion). Japan maintains significant Russia's assets United Kingdom holds significant Russia's economic assets The North American country has substantial Russian funds United States maintains smaller but symbolic resources Diplomatic Obstacles The Hungarian government, known for its pro-Russian stance, has often delayed European Union restrictive measures and even though it has never dared to prevent them, its skeptical rhetoric prompt concerns about ongoing backing. Viktor Orbán missed the Ukraine-related talks to attend ceremonies in Budapest marking the 1956 Hungarian revolution. Latest Measures Previously, the European Union approved its nineteenth set of restrictive measures against Russia, focusing on LNG for the first time. This action came after similar steps by the American government, which implemented sanctions on the Russian primary energy corporations, major Russian enterprises. Optimism in Resolution Regardless of ongoing disagreements over the financial package, various leaders demonstrated confidence in achieving an accord. "Today we will make the important resolution to guarantee the monetary necessities of the Ukrainian people from 2026 to 2027," declared a leading European representative, characterizing the outstanding work as "procedural matters". Latvia's prime minister commented that an consensus on the financial package would empower Zelenskyy in any possible diplomatic talks. Diplomatic Considerations Ukrainian leadership has downplayed information of a comprehensive peace plan that surfaced recently, indicating it was the effort of "supportive nations" seeking to counter "some plan from Moscow". The Ukrainian president emphasized that Moscow has demonstrated no sign of wishing to stop the hostilities, referencing current attacks on civilian targets. "More pressure on Russia and they will engage and discuss and I consider this is the strategy," he affirmed.