Finland's president hails 'ingenious' plan to seize frozen Russian assets for Ukraine

Published on 30/09/2025 - 19:50 GMT+2

The program which is present gaining crushed successful Germany would spot the EU get astir €140 cardinal connected behalf of each EU subordinate states, meaning each state would stock the hazard based connected GDP.

The sum would past beryllium made disposable to Ukraine portion the warfare is ongoing.

"It's my knowing is that the connection is thing to the effect that alternatively of giving a blank cheque to Ukraine you framework it arsenic warfare compensation," Finland's President Alexander Stubb told journalists successful Helsinki.

"Which fundamentally means that you springiness the wealth retired arsenic an involvement escaped indebtedness to Ukraine," helium said.

"And if oregon erstwhile Russia ne'er pays warfare reparations past that wealth is fundamentally fixed to Ukraine."

The bulk of frozen Russian assets are held successful the Euroclear fiscal repository successful Belgium which holds implicit €190 billion.

However, the Belgian authorities has truthful acold ruled retired immoderate overtures by the EU to merchandise the wealth arsenic it believes the determination would severely harm Belgium's planetary credibility successful the country of fiscal services.

"The ideas presently connected the array look problematic to us," a Belgian authoritative told Euronews.

"They would instantly devour into the other profits connected the frozen assets, reducing their semipermanent value," they said.

"In practice, this would beryllium astir similar an beforehand connected aboriginal reparations from Russia, wealth that is really intended for the reconstruction of Ukraine, but would present already beryllium utilized up."

"And successful the meantime, the fiscal risks would autumn wholly connected the Member States," the authoritative added.

However, MrStubb said helium believes the program is wrong the limits of planetary instrumentality and Belgium would not beryllium unsocial successful taking the risk.

"It stands to planetary instrumentality and were determination to beryllium immoderate complications past determination would beryllium burden-sharing beyond Belgium," helium said.

"So it's not lone Belgium that is held liable, due to the fact that you're giving retired a indebtedness against the subordinate states. I deliberation the thought is ingenious and I deliberation it’s going to enactment and volition assistance Ukraine to money itself."

Stubb besides said helium welcomes caller proposals by European Council president Antonio Costa to extremity unanimous decision-making among EU subordinate states erstwhile it comes to EU Enlargement.

The program has emerged successful effect to accordant blocking by Hungary of Ukrainian advancement connected its candidacy of the European Union.

"Any determination that gives much flexibility and little anticipation to artifact I personally welcome," helium said. "And ne'er much truthful than with Ukraine."