In a series of messages published on the social network, due to what Dmitriev explained, Europe decided to grant Ukraine a loan of 90 billion euros without resorting to blocked Russian assets, which Moscow interpreted as a blow to those who promoted quick action on these funds. According to the media responsible for reporting, the European announcement was greeted by Russia as a “great victory for the law and common sense and for the voices of reason in Europe that have protected the European Union, the Euro and Euroclear.”
At the summit in Brussels, European leaders agreed that financial assistance to Ukraine would take the form of various disbursements over the next two years, with the aim of contributing to the economic stability of the country affected by the armed conflict. As the above-mentioned media reported, despite the size of the support package, the bloc’s leadership avoided immediate access to Russian reserves, the use of which sparked heated debate in the run-up to the agreement reached.
The media reported that Dmitriev highlighted the alleged unauthorized use of more than 193 billion euros in Russian assets by the Belgian company Euroclear, which Moscow has repeatedly pointed out in international forums. In his statements, Dmitriev denounced that the measure’s main proponents were European Commission President Ursula von der Leyen and German Chancellor Friedrich Merz, whom he accused of “burning political capital by encouraging illegal movements against Russian reserves, and they have failed.” The publications, attributed by the media, show how the Russian manager toughened his attitude towards high-ranking officials: “The whole world has just seen how your attempt to intimidate others into breaking the law has failed.”
As can be seen from the source who spread these words, the Kremlin’s response says that any attempt to dispose of the frozen assets would constitute a violation of international regulations and disrupt the normal functioning of the European financial system. This argument has repeatedly appeared in the public statements of Russian officials since the beginning of the military intervention in Ukraine and the resulting immobilization of Russian funds on European territory.
According to the report, European Council President António Costa stated that the option to use the assets would remain in place for future negotiations. The European Union has officially stated that it may reconsider the whereabouts of the frozen assets depending on the development of the political situation on the continent or the conditions for repayment of the loan granted to Kiev. As the above-mentioned media summarize, the possibility of using these funds remains a resource to be assessed by the Union, which opens the door to new debates and scenarios depending on political and financial developments.
In its official reaction, reflected in the media, Russia interprets the European determination as a sign of caution given the legal and economic risks that would be associated with rejecting the proposal to allocate resources of Russian origin to finance Ukraine. Moscow emphasizes that this path would jeopardize the integrity of the international banking system and underlines the importance of protecting its reserves for the stability of global economic relations.
The media also noted ongoing differences between European Union member states over the use of frozen assets, underscoring concerns some fear potential reputational damage and negative impacts on the continent’s financial architecture. Euroclear’s performance as custodian of Russian funds has drawn recriminations from Moscow, which continues to point the finger at the company and the Belgian authorities in its speeches about the legality of its management of these assets.
Meanwhile, both the Russian authorities and various players in the global financial system continue to closely monitor the development of the official European position. The same media noted that Moscow would remain vigilant over any attempt to redefine access to blocked reserves, fearing that changing the criteria could harm Russian interests and change international rules on the matter.
The current situation leaves several fronts open for future negotiations and confrontations. According to the media responsible for disseminating the news, the total Russian assets frozen since the beginning of the conflict, amounting to more than 193 billion euros, continue to represent a source of disagreement between Brussels and Moscow, the political, legal and financial dimensions of which could affect the continuity and form of Western aid to Ukraine. The coming weeks could be crucial in determining whether the European Union maintains its current position or decides to explore new alternatives in managing these blocked resources.
About The Author
