The leading EU countries oppose the confiscation of Russian assets to aid Ukraine

The European Union has failed to reach an agreement on the confiscation of Russian assets to aid Ukraine, as the bloc’s largest economies oppose the initiative.

This was reported by Politico.

According to the publication, the Baltic states, Northern Europe, Poland, the Czech Republic, and the EU’s High Representative for Foreign Affairs and Security Policy, former Estonian Prime Minister Kaja Kallas, are advocating for the confiscation of over €200 billion in frozen Russian assets in Europe.

However, France, Germany, Italy, Spain, and European Commission President Ursula von der Leyen oppose the measure.

Concerns stem from the possibility that seizing Russia’s funds could deter international investors.

“If [the assets] are unfrozen and handed over to Ukraine, they will be gone, and they will no longer serve as leverage,” explained one EU diplomat.

French President Emmanuel Macron also emphasized the significance of these frozen assets as a bargaining tool in future negotiations during a meeting with U.S. President Donald Trump at the White House.

Previously, The Washington Post reported that European officials were abandoning the idea of confiscating Russian assets, viewing it as a potential violation of international law and fearing that such a move could undermine trust in the euro and provoke retaliatory measures from Russia.

European Central Bank President Christine Lagarde has also stated that seizing frozen Russian assets would violate international law.