The proposal from the European Commission to use frozen Russian assets for a loan to Ukraine is the “best and most realistic option,” concludes Danish Minister Stephanie Lose (Economic Affairs) after a meeting with EU finance ministers. The two other options for financial support to Ukraine presented earlier on Thursday by President Ursula von der Leyen of the European Commission seem unlikely to succeed.
Euro Commissioner Valdis Dombrovskis (Photo: European Commission)
BRUSSELS (ANP) – This involves raising money from the capital market by the EU through, for example, bonds. Another possibility is that member states draw budget from their own budgets to lend to Ukraine.
Both options cost member states money, while using the frozen assets does not, said European Commissioner Valdis Dombrovskis (Economy) afterwards. According to him, there was “broad recognition among the EU ministers that using the frozen Russian assets is the most feasible way to quickly bridge Ukraine’s funding gap without placing an additional burden on the member states.” The Netherlands also prefers this approach.
Belgium has major objections to using the Russian billions for a loan to Ukraine. Belgium fears the consequences if Russia demands the loaned money back and demands guarantees from all EU countries. The assets are held by the financial institution Euroclear, based in Belgium.
The European Commissioner acknowledges that there are risks involved. “However, the risks of doing nothing are greater,” said Dombrovskis.
The aim is for EU leaders to make a final decision at the summit in mid-December. However, Ukraine already needs money in the first quarter of 2026. “We are under time pressure and must proceed in a constructive, pragmatic, and cooperative manner,” said Dombrovskis.
(November 13, 2025)
