Ukraine says European allies are becoming more willing to reopen discussions on using frozen Russian assets to help finance the country’s war effort, a senior Ukrainian government official told Reuters.
The issue gained renewed attention after an informal meeting of EU foreign ministers on Wednesday, where Ukraine participated. Kyiv faces a budget deficit of more than $32 billion this year and expects a similar gap in 2027, while officials say an additional €27 billion is needed for defence spending in 2026.
About €210 billion in Russian central bank assets have been immobilised in the European Union since Russia’s invasion of Ukraine. The Netherlands, Poland, Spain and Sweden have called for the debate over their possible use to be reopened, despite longstanding concerns among some European governments about legal and financial risks.
The Ukrainian official said Kyiv believes there is growing readiness among European partners to reach a decision on the assets. Some countries want to preserve the funds as leverage in potential future negotiations with Russia, but Ukraine argues that the money is needed immediately.
Finance Minister Serhii Marchenko said Kyiv was also discussing changes to the legal arrangements governing some of the frozen assets. Most of the funds are held by Brussels based securities depository Euroclear.
Belgium, where Euroclear is based, has opposed proposals to use the assets because of the potential for Russian legal action or retaliation. Belgium said on Wednesday that its position had not changed.
Marchenko said Ukraine wanted a framework that would make responsibility for potential legal disputes a shared obligation among the EU’s 27 member states rather than falling primarily on Belgium.
Kyiv is relying on the European Union and other international partners to cover its current budget shortfall and is holding talks with the International Monetary Fund over financing arrangements for 2027.
The renewed debate comes as Ukraine seeks additional financial support to sustain its defence as the war with Russia continues.
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