Netherlands pushes renewed talks on using frozen Russian assets to support Ukraine – Politico

The Netherlands is seeking to restart talks on using up to EUR 210 billion in frozen Russian assets to help Ukraine keep defending itself next year.

That is according to Politico, Ukrinform reports.

Six diplomats and EU officials told Politico that Dutch Finance Minister Eelco Heinen canvassed support among EU peers on Tuesday during a debate behind closed doors in Brussels.

According to European diplomats cited by Politico, there are growing concerns within the EU that the already approved EUR 90 billion loan package may not be sufficient to cover Ukraine’s needs in the coming years. The funds are currently expected to cover only two-thirds of Ukraine's forecasted budget shortfall until 2027.

At the same time, reopening the debate over Russian assets could trigger new disputes within the EU. Belgium, where most of the frozen Russian funds are held, previously opposed such a mechanism. Officials in Brussels fear potential legal and economic consequences if Russia attempts to reclaim the assets.

The European Central Bank consistently warned that tapping the immobilized funds could deter other governments from doing business in the eurozone.

Nevertheless, EU officials acknowledge that if the war continues, Ukraine will require additional financing to sustain both its defense efforts and state operations. For this reason, several countries, including the Netherlands, are pushing to resume discussions on the use of frozen Russian assets.

Earlier, Dutch Foreign Minister Tom Berendsen said the new Dutch government would continue providing military and financial support to Ukraine on a long-term basis and would keep exploring the possibility of using frozen Russian assets.

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