Russian Diplomat Warns Against EUs Plan to Use Frozen Assets for Ukraines Aid

A proposal by the European Union to allocate frozen Russian assets for financing Ukraine’s defense against Russia could have “profound implications” for the EU, Moscow’s ambassador to Germany cautioned on Friday.

His remarks were made as EU leaders explore additional measures to support Ukraine amid intensifying military challenges.

“Any dealings involving sovereign Russian assets without the consent of Russia can be considered theft,” Sergei Nechaev expressed in a statement provided to AFP.

“The notion that Russian state funds could be taken unjustly will undoubtedly have significant consequences,” he continued.

On Wednesday, the EU outlined a plan to utilize frozen Russian assets to assist Ukraine with a funding boost of 90 billion euros over the next two years, despite opposition from Belgium, where many of these assets are located.

Nechaev asserted that this “unprecedented move” could undermine the business credibility of the European Union and subject European governments to endless litigation.

“In effect, this leads to legal chaos and threatens the foundational principles of the global financial system, particularly impacting the EU,” he declared.

“We believe this reality is recognized in both Brussels and Berlin.”

European leaders are actively seeking new strategies as U.S. President Donald Trump aims to conclude the war under terms perceived as unfavorable for Kyiv.

They are looking for ways to finance a loan to Ukraine that, under the proposal, would be repaid through potential Russian reparations.

However, Belgium, which hosts the international deposit organization Euroclear holding a majority of Russian assets, has thus far opposed the plan due to concerns over legal consequences.

Nechaev remarked that the initiative revealed Europe’s lack of the “substantial resources” needed to persistently support Ukraine.

German Chancellor Friedrich Merz met with Belgian Prime Minister Bart De Wever and European Commission President Ursula von der Leyen in Brussels on Friday to deliberate on the proposal.

After the meeting, Merz described the discussion as a “very constructive exchange.”

“Belgium’s specific apprehensions regarding the utilization of frozen Russian assets are legitimate and must be considered in any potential solution to ensure that all European nations share the same level of risk,” he stated.

The leaders agreed to “continue their discussions aimed at reaching a unified solution” before their next summit scheduled for December 18 and 19, according to Merz’s spokesperson, Stefan Kornelius.