Trump on frozen Russian assets: I'm not involved in those discussions

Speaking to reporters aboard Air Force One, Trump was asked whether the White House planned to use Russian assets as a bargaining tool.

"I'm not doing that. What happens is, I guess, Europe and Russia are having discussions. I'm not involved in those discussions," the president said.

Meanwhile, the European Union has postponed until December a decision on whether to use frozen Russian assets to assist Ukraine. The delay came after Belgium requested stronger legal guarantees that it would not bear financial risks related to loans totaling €140 billion.

EU leaders have asked the European Commission to prepare new options for consideration at the next summit.

Frozen Russian assets

Following Russia’s full-scale invasion of Ukraine in 2022, the United States and its allies banned transactions with the Russian Central Bank and Finance Ministry, leading to the freezing of up to $250 billion in assets across the EU.

The Central Bank of Russia later confirmed that between $300–350 billion worth of reserves, including foreign currency, gold, and government bonds, had been blocked, roughly half of which was held in Western institutions.

Ukrainian President Volodymyr Zelenskyy has urged European leaders to use these frozen assets to fund Ukraine’s reconstruction.

EU plan

One proposal under discussion would allow the EU to treat the frozen Russian assets as a "reparations loan" for Ukraine, to be repaid only once Moscow compensates Kyiv for war damages.

Previously, interest generated from the frozen assets was used to service a $50 billion credit package for Ukraine, though the total amount of accrued interest has since begun to decline.