Von der Leyen: EU has legal way to use frozen Russian assets to fund Ukraine

That’s according to European Commission President Ursula von der Leyen, who made the statement to journalists ahead of the informal EU leaders’ summit in Copenhagen, a Ukrinform correspondent reports.

“We have to increase pressure on Russia, and this is why I have proposed reparation loans for Ukraine on the basis of immobilized Russian assets. We are not confiscating the assets, we are taking cash balances for a loan to Ukraine. Ukraine has to pay back this loan if Russia pays reparations,” von der Leyen said.

She stressed that the aggressor must be held accountable, including through reparations.

Commenting on concerns that discussions over the use of Russian assets remain sensitive and that not all countries agree with the idea, the Commission President said:

“There is a growing consensus among us that it’s not only the European taxpayers that should pay for the support of Ukraine, but that Russia has to be held accountable. It is Russia that is perpetrator, it has caused the damage, and it has to be held accountable. I think we have now a sound legal way to do this with the proposals of the reparation loans.”

As reported by Politico, the European Commission has proposed using frozen Russian assets to secure a EUR 140 billion loan for Ukraine.

Earlier, EU High Representative for Foreign Affairs and Security Policy Kaja Kallas admitted that member states have not yet reached full unity on broader use of frozen Russian assets.

However, she dismissed fears that funds belonging to other countries held in Europe could be at risk, saying there are no such risks unless those countries start a war.

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