November 17, 2025
Von der Leyen says EU states can fund Ukraine if they balk on using Russian assets
European Commission President Ursula von der Leyen on Monday sought to tamp down fears among EU member states when it comes to the possibility of seizing Russian assets frozen by the bloc to finance Ukraine’s reconstruction.
Several nations, especially Belgium, fear that by seizing Russian assets they may open themselves up to massive legal and financial penalties.
Von der Leyen also detailed how Russian funds held by commercial banks in other EU states could be used, estimating they added up to some €25 billion ($29 billion).
According to the Commission, the EU must somehow provide Ukraine with at least €135.7 billion by the end of 2027 — that on the assumption that the war can be brought to an end during the course of next year and military assistance of €51.6 billion in 2026 can be cut to €31.8 billion in 2027.
Budgetary aid for the Ukraine is pegged at €20.1 billion in 2026 and €32.2 billion in 2027.
Von der Leyen suggested that Ukraine’s €100 billion-plus budget deficit could also be plugged by EU member state contributions, joint loans, or a combination of the two if Russian assets were not used, though she warned that this approach would be considerably more expensive for all involved.
Von der Leyen and German Chancellor Friedrich Merz recently presented a plan in which a €140 billion loan could be provided to Ukraine using the Russian funds.
Moscow could get the money back, say the two, but only after agreeing to pay reparations to Ukraine.
The Commission president called clearing up Ukraine financing crucial, noting that it is key to maintaining pressure on Russia and dashing any hopes Russia may have of victory.
This sentiment was echoed by Finnish President Alexander Stubb, who told reporters in Brussels that it is vital to use frozen Russian assets to help fund Ukraine.
The EU’s next steps in the matter are to be discussed at a regular EU summit on December 18.
