Ukraine calls on FIA to reconsider lifting ban on competitors from Russia, Belarus

On August 18, Ukrainian Foreign Minister Andrii Sybiha urged the revival of talks on utilizing frozen Russian assets to aid Ukraine. He believed the time had come to discuss clear legal mechanisms for employing these assets in supporting Ukraine. Sybiha highlighted that Russia's damage to Ukraine's infrastructure had surpassed $600 billion, making it challenging for Ukraine to overcome this issue alone.

He emphasized that Ukraine requires such assistance to preserve macrofinancial stability. Sybiha expressed gratitude for Belgium's support and stressed that frozen assets could significantly bolster Ukraine through direct use of Russian funds. He called for Ukraine to actively engage in discussions on this matter across European capitals and beyond, hoping for clear, concrete decisions.

Sybiha stressed that this decision must be collective and a shared responsibility. Earlier in December 2025, European Commission President Ursula von der Leyen proposed financing Ukraine for the next two years through EU borrowing on capital markets, with repayment contingent on Russia's reparations. However, Belgium's Prime Minister Bart De Wever opposed a direct reparations loan, and Euroclear threatened legal action against the EU if funds were transferred to Ukraine.

The UK later declined to use its £8 billion in frozen Russian assets to support Ukraine. French President Emmanuel Macron effectively ended the EU's proposal to utilize €210 billion in frozen Russian assets by siding with opponents of the plan. On February 26, 2026, German Foreign Minister Johann Wadephul ruled out transferring the assets to Ukraine, though the EU's position later diverged from Wadephul's statement.

EU foreign policy chief Kaja Kallas announced that the bloc would provide Ukraine with an additional €80 million from the income generated by frozen Russian assets. On August 8, former senior officials from Germany, France, and the United States called for the EU to take control of frozen assets belonging to Russia's central bank.

Belgian Foreign Minister Maxime Prévot indicated openness to using frozen Russian assets for Ukraine but stressed the need for collective sharing of legal, financial, and systemic risks.