Sybiha Calls for Use of Frozen Russian Assets to Help Cover Ukraine’s Rising Defense Costs

Ukrainian Foreign Minister Andrii Sybiha is advocating for the utilization of Russian frozen assets to assist in addressing Ukraine's escalating defense and reconstruction requirements, as Russia persists in intensifying its attacks, UATV English has reported. Sybiha expressed gratitude to the foreign ministers of Sweden, Poland, the Netherlands and Spain for their recent proposal urging the EU to restart discussions on employing frozen Russian assets for Ukraine.

"Russia fails to cease the conflict and instead escalates its terror. Ukraine must bridge the gaps in its mounting defense and recovery expenditures. It is equitable and rational to employ Russian assets, rather than relying solely on European taxpayers' funds, to cover the supplementary expenses of safeguarding Ukraine and the broader European region from the Russian menace," Sybiha stated.

The minister emphasized that the matter should be deliberated pragmatically, with specialists striving to devise solutions in line with European regulations, international law and the rule of law. Sybiha also contended that potential financial and legal risks could be collectively mitigated and allocated fairly among EU member states, guaranteeing that no single nation assumes an undue burden.

This call arises as certain EU countries assert that the €90 billion loan already earmarked for Ukraine may prove inadequate to satisfy its burgeoning financial exigencies. Sweden, Poland, the Netherlands and Spain have implored the EU to explore alternative methods of leveraging frozen Russian sovereign assets to bolster Ukraine.

The matter is anticipated to be deliberated by EU foreign ministers during their informal gathering in Ireland at the onset of September.