The Ukrainian president, Volodymyr Zelensky, called on the leaders of the European Union (EU) this Thursday to make the decision before the end of the year to use the Russian assets immobilized in Europe for a loan to keep Ukraine afloat, ensuring that it is an option that is within their power and that will strengthen the Ukrainian position in the peace negotiations.
“The partners are informed that the decision must be made before the end of this year,” said the Ukrainian president at a press conference from Brussels, after meeting with European leaders within the framework of the summit called to agree on a financing formula that will keep Ukraine afloat for the next two years.
Zelensky has assured that it is urgent that kyiv can “close this problem and obtain financing”, pointing out that the “correct way” to finance Ukraine has to be through Russian assets frozen by European sanctions.
In this way, the Ukrainian leader has defended, the Europeans will make Moscow pay for its aggression. “So that we all understand it and Russia understands it: it is guilty and reparations will have to be paid,” he stated.
Likewise, he has insisted that this measure, which falls in the hands of European leaders, has to be decided exclusively by Europeans without external interference. “Why should we talk about the funds that are in Europe with the Russians, the Chinese or whoever? The money is in Europe. Let’s decide that with the Europeans,” he urged.
The step of resorting to frozen Russian assets may influence the negotiations, explained Zelensky, who stressed that Russian assets “not be used as leverage” against Ukraine in said process. “We want these assets so that they are not part of the negotiation process. And we want this part to support us,” he added, reiterating that kyiv will go more safely to the negotiation table if it receives a positive signal from the immobilized Russian assets.
Within the framework of the European summit, he had a meeting with his Belgian counterpart, Bart De Wever, to whom he conveyed the emergencies facing Ukraine. Attention is focused on Belgium, the country that hosts the headquarters of Euroclear – the depository entity that has the vast majority of the assets in question – and that maintains its refusal to this plan citing the risks it would assume in the event of future claims from Russia.
“I had a meeting, and I think I told him everything, and he told me everything. And if it turned out to be productive, we’ll see,” Zelensky explained about his contacts with the Belgian leader without wanting to reveal whether a decision can be made this Thursday.
In any case, he has stressed that kyiv needs support, not only because of the 45 billion deficit in its accounts, but to maintain the ability to maintain the fight in the east of the country. “These are very important and high risks for Ukraine,” he warned, detailing that the lack of resources will affect essential elements of the battle such as the production of drones or long-range missiles.