{
  "id": 13941664,
  "title": "Ukraine’s FM: Russia’s war budget makes the case for using frozen assets now",
  "url": "https://urgent.news/2026/10/12/ukraines-fm-russias-war-budget-makes-the-case-for-using-frozen-assets",
  "topic": "world",
  "section": "World",
  "published": "2026-10-12T11:28:21.000Z",
  "source": {
    "name": "Politico EU",
    "slug": "politico-eu",
    "url": "https://www.politico.eu/article/ukraine-fm-andrii-sybiha-russias-war-budget-makes-the-case-for-using-frozen-assets-now/"
  },
  "original_language": "en",
  "account": "Ukraine's Foreign Minister, Andrii Sybiha, argues that Russia's enormous war budget makes it critical to utilize frozen Russian assets for Ukraine's defense and recovery. This long overdue decision could be a game changer, potentially shifting the balance in Ukraine's favor, especially when coupled with strong sanctions pressure. However, acting faster and more decisively than Russia is crucial.\n\nRussia plans to spend a record €180 billion on its military in 2027, more than 40% higher than its 2026 defense allocation. The country's draft federal budget allocates a combined €669 billion to defense and security for the 2027–2029 period, indicating Russia's intention to wage war. Moscow is increasing pressure, intensifying attacks on Ukrainian civilians and raising defense costs for both Ukraine and Europe.\n\nYet, as the cost of war rises, it should escalate faster for the aggressor. The higher the price for Moscow, the sooner peace can be restored. Half-hearted measures on Russia and support for Ukraine will only prolong conflict and increase the overall price tag. Decisive actions can bring an end to the war.\n\nRecently, Sweden, the Netherlands, Spain, and Poland urged the European Commission to reconsider the use of immobilized Russian assets. While these countries have taken a significant step by immobilizing some €300 billion in Russian central bank reserves, the next step is to put the assets into use. The key debate revolves around scope and risk mitigation.\n\nUkraine proposes placing the assets under collective EU control, shared risk among European nations, specifically mentioning Belgium's concerns regarding its exposure. Another point of contention is whether this decision should apply to all jurisdictions, not just Euroclear. Despite these concerns, Ukraine argues that Europe should not wait for global coordination when its security is at risk.\n\nSeveral arguments against the full use of these assets are addressed. Firstly, breaking the rule of law does not apply, as Russia's actions constitute an internationally wrongful act, obligating reparations and allowing countermeasures. Secondly, the euro's credibility as a reserve currency remains unaffected, as the immobilization of reserves did not change the euro's position. Thirdly, these assets have not influenced Russia's stance on peace talks, as Russia continues to budget massively for the war. Lastly, Russia already seized Western assets during the war, demonstrating that immobilizing assets does not deter aggression.",
  "summary": "The aggressor has put a number on its intentions. Europe should turn Moscow’s reserves into Kyiv’s defense — collectively, lawfully and now.",
  "key_points": [
    "Russia plans to spend €180 billion on military in 2027, 40% higher than 2026.",
    "EU countries urged to use immobilized Russian assets for Ukraine's defense.",
    "Ukraine proposes collective EU control of assets, despite concerns."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "New Voice of Ukraine",
        "title": "Russia seeks new cutoff to regain battlefield momentum in Ukraine, ISW says",
        "url": "https://urgent.news/2026/10/12/russia-seeks-new-cutoff-to-regain-battlefield-momentum-in-ukraine-isw",
        "published": "2026-10-12T10:40:00.000Z"
      },
      {
        "outlet": "Kyiv Independent",
        "title": "Russian assets are only leverage if Europe uses them, says Ukraine's FM Sybiha",
        "url": "https://urgent.news/2026/10/12/russian-assets-are-only-leverage-if-europe-uses-them-says-ukraines-fm",
        "published": "2026-10-12T11:11:34.000Z"
      },
      {
        "outlet": "Interfax-Ukraine",
        "title": "Sybiha: Russia bets on winter, Europe must bet on Ukraine",
        "url": "https://urgent.news/2026/10/12/sybiha-russia-bets-on-winter-europe-must-bet-on-ukraine",
        "published": "2026-10-12T11:18:20.000Z"
      },
      {
        "outlet": "Times of India",
        "title": "Zelenskyy says Russia strikes Ukraine energy sites despite Trump’s ceasefire claim",
        "url": "https://urgent.news/2026/10/12/zelenskyy-says-russia-strikes-ukraine-energy-sites-despite-trumps",
        "published": "2026-10-12T11:38:50.000Z"
      },
      {
        "outlet": "The Record",
        "title": "Ukraine strikes third Yandex data center, disrupting digital services across Russia",
        "url": "https://urgent.news/2026/10/12/ukraine-strikes-third-yandex-data-center-disrupting-digital-services",
        "published": "2026-10-12T12:00:00.000Z"
      },
      {
        "outlet": "Euromaidan Press",
        "title": "Ten casualties to one, by a NATO official’s count: Russia’s September in Ukraine’s kill zones",
        "url": "https://urgent.news/2026/10/12/ten-casualties-to-one-by-a-nato-officials-count-russias-september-in",
        "published": "2026-10-12T12:08:17.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}