Kallas: €210 billion of Russian assets will remain frozen until reparations are paid to Ukraine
Photo: Kaja Kallas, EU foreign affairs chief (Getty Images)
The European Union will not return frozen assets to Russia until the aggressor country pays reparations to Ukraine, according to European Union foreign affairs chief Kaja Kallas on Twitter (X).
Kallas reminded that the European Union has decided to freeze Russian assets indefinitely.
"This ensures that up to €210 billion in Russian funds stay on EU soil, unless Russia fully pays reparations to Ukraine for the damage it has caused," she emphasized.
The EU foreign affairs chief assured that the bloc will continue to increase pressure on Russia until it begins to take negotiations seriously.
She also noted that next week’s European Council meeting will be crucial for securing Ukraine’s financial needs in the coming years.
EU makes key decision on Russian assets
Today, 12 December, EU countries decided to extend the freezing of Russian assets indefinitely.
Until now, member states had to renew the freeze every six months, which carried certain risks, as Hungary or Slovakia could block the decision at any time.
As Reuters reported, the indefinite freezing of Russian assets is particularly important in the context of discussions about a reparations loan for Ukraine.
EU leaders are expected to meet on 18 December to consider granting such a loan to Ukraine. Belgium opposes the initiative, fearing lawsuits and sanctions from Moscow.
Today, Belgium, along with Italy, Malta, and Bulgaria, called for exploring alternative financial assistance options for Ukraine.
