122 MEPs Demand Transfer of €200 Billion of Russian Assets to Ukraine

A group of 122 Members of the European Parliament has sent an open letter to EU leaders demanding the transfer of €200 billion of frozen Russian assets to support Ukraine. The initiator of the appeal, Swedish MEP Karin Karlsbro, emphasized the need for long-term financing for Ukraine. The transfer of funds would expand Europe’s financial capabilities and demonstrate to Moscow that time is working against Russia. In 2025, there was a discussion about attempting to use Russian funds, but the decision was blocked by Belgium due to concerns over legal claims. Belgium holds approximately €180 billion of frozen Russian assets. The parliamentarians proposed creating a special financial instrument at the EU level to manage Russian accounts and mitigate legal risks. They are calling on the European Commission to prepare a legal draft resolution. Simultaneously, negotiations are ongoing with French President Emmanuel Macron, as France holds €19 billion of Russian funds. Previously, the Netherlands, Poland, Spain, and Sweden called for a reconsideration of the use of frozen assets. Following Russia's invasion of Ukraine, around €260 billion of Russian sovereign assets have been frozen, with the largest holder being the Belgian depository Euroclear. In response, the Central Bank of Russia filed a lawsuit in the Arbitration Court of Moscow, which granted a claim for the payment of 18.17 trillion rubles. Euroclear has also filed a lawsuit against the Central Bank of Russia, seeking to have the Russian court's decision declared invalid.

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