Borrell urges EU to consider expropriating frozen Russian assets amid US policy shifts

EU foreign policy chief Josep Borrell has called on the European Union to consider the expropriation of frozen Russian assets, rather than limiting itself to utilizing the income generated from reinvestments.

Speaking at a European Parliament hearing focused on EU-US relations in the wake of Donald Trump's re-election, Borrell emphasized the need for a more decisive approach, Caliber.Az reports, citing foreign media.

Borrell expressed concerns that American support for Ukraine might diminish once Trump takes office, raising questions about the future of frozen Russian assets.

“If we only use the income generated from these assets to fund Ukraine’s defence industry, it won’t be enough. We need a solution for the assets themselves, not just the revenue they produce,” Borrell stated.

Highlighting the potential gap in support, Borrell underscored that the EU must prepare for significant financial and industrial efforts to make up for the military assistance that the US currently provides to Ukraine.

“The United States has provided 25% more military aid to Ukraine than the European Union. To bridge that gap, the EU will need to undertake enormous industrial and financial initiatives,” he said.

At the same hearing, Borrell voiced a cautious hope that Trump might not fully implement the policies he had outlined during his campaign, particularly those involving a potential reduction in aid to Kyiv.

“Let’s hope President Trump does not follow through on everything he promised during the campaign,” Borrell added, reflecting the EU’s uncertainty over the transatlantic partnership's future trajectory.

The outgoing EU foreign policy chief’s remarks come as Europe grapples with the potential fallout of shifting US foreign policy under Trump’s renewed leadership, pushing the EU to rethink its strategic and financial commitments to Ukraine.

By Khagan Isayev