Europe Asia News

Kallas stated that the EU has taken a decision to freeze Russian assets without a time limit.

She explained that the decision secures the holding of up to €210 billion in Russian assets on EU territory, to be released only if Russia fully pays compensation for the damage caused to Ukraine.

“We continue to increase pressure until Russia takes the negotiation process seriously. Next week’s European Council meeting will be of great importance in securing Ukraine’s financial needs for the coming years,” Kallas said.

European Commission President Ursula von der Leyen welcomed the Council’s acceptance of proposals to maintain the freezing of Russia’s sovereign assets.

Von der Leyen said: “As long as this barbaric war of aggression continues, we are sending a strong message that the costs for Russia will keep rising. This is also a strong message to Ukraine: we want to see our brave neighbor become stronger both on the battlefield and at the negotiating table.”

European Council President Antonio Costa stated: “At the October European Council, EU leaders committed to keeping Russian assets frozen until Russia ends its war of aggression against Ukraine and compensates for the damage caused. Today we fulfilled that commitment. The next step is securing Ukraine’s financial needs for 2026–27.”

Estonian Foreign Minister Margus Tsahkna said: “The €210 billion in frozen Russian assets will remain blocked until Moscow ends the war and compensates Ukraine for the damage. Europe stands firmly with Ukraine, united and determined.”

German Chancellor Friedrich Merz said: “The assets of the Russian Central Bank will remain frozen until Russia ends its war of aggression and compensates Ukraine. I welcome this almost unanimous decision, taken together with Italy and Belgium, as a strong message of European sovereignty.”