Europe is increasing pressure on Russia and seeking ways to compensate Ukraine for damages. Germany has changed its position and is actively advocating for the use of frozen Russian assets, sources told Bloomberg.
Berlin's change of position comes amid concerns that if US support weakens under Trump, the burden of supporting Ukraine will mainly fall on Europe's largest economy, which could further strengthen the rise of far-right forces in Germany.
Following Germany, other countries have advocated for expanding the use of frozen Russian assets to finance Ukraine after new pressure from US President Donald Trump.
The vast majority of the approximately $300 billion in frozen Moscow assets are located in Europe. European Commission President Ursula von der Leyen stated in her speech earlier this month that the EU needs to find new ways to make Russia pay for its war.
«We urgently need to work on a new solution for financing Ukraine's military actions based on frozen Russian assets. With the funds associated with these Russian assets, we can provide Ukraine with a loan for reparations», — the head of the European Commission reported.
According to officials, this topic is expected to be raised by some EU finance ministers at a meeting in Copenhagen this week, as well as by EU leaders in October. Ideally, a decision should be finalized at the EU leaders' summit on October 23-24.