Trump and Putin’s ‘terrible’ alliance threatens to strain EU’s resolve on Ukraine
Several EU leaders want to revive the bitter debate over raiding Russia’s frozen assets to fund Ukraine’s war.
EU leaders will gather on Friday to discuss providing Ukraine with more support and weapons amid growing concerns over the alliance's resolve in the face of Donald Trump's recent actions that favor Russia. Ukrainian President Volodymyr Zelenskyy will make a direct pitch to European leaders for additional help as the summit continues in Brussels.
The situation has become increasingly tense, with a recent incident involving Russian drones striking ships in Romanian waters prompting emergency talks with NATO. Zelenskyy emphasized the need for stronger signals of support, including more pressure on Russia and enhanced defense assistance for Ukraine. However, unity among European leaders is currently lacking, as they grapple with internal political pressures and budget negotiations.
The U.S. president's decision to open American markets to Russian diesel fuel has raised concerns among European officials, as it could potentially bolster Russia's economic position and weaken Ukraine's financial resources. The frozen Russian financial assets held in European banks, primarily in the Euroclear depository in Brussels, have also resurfaced as a topic of discussion.
While some countries, such as Sweden, Finland, and Germany, advocate for exploring these assets as a viable funding option for Ukraine, others, like Belgium, remain hesitant due to legal concerns. The EU Commission is set to provide a detailed assessment of Ukraine's funding requirements and potential options, including the use of frozen assets.
German Chancellor Friedrich Merz stressed the importance of increasing funding to provide Ukraine with long-term assistance and firmly maintained that NATO's primary threat is Russia.
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