Zelenskyy urges EU to overcome divisions on use of frozen Russian assets

Ukrainian President Volodymyr Zelenskyy has called on the European Union to bridge internal divisions and approve the use of frozen Russian assets to fund Ukraine’s defence and stabilise its war-torn economy.

“I hope, God bless, we will get this decision,” Zelenskyy told Bloomberg Television in an interview on November 12 in Kyiv. Otherwise, “We will have to find an alternative, it’s a question of our surviving. That’s why we need it very much. And I count on partners.”

The EU has postponed until December a decision on whether to tap Russian state assets to provide €140 billion in loans to Ukraine, which is expected to face a severe funding shortfall by early next year.

With US financial aid currently stalled, European governments have pledged to increase support to help Ukraine counter renewed Russian offensives. However, the bloc failed last month to resolve Belgium’s objections — Brussels, which holds the largest portion of frozen Russian funds, has sought legal assurances to avoid potential liabilities.

“Russia has to pay for this war,” Zelenskyy said, adding that money from frozen assets would allow Ukraine to purchase additional air defense systems from the US and Europe and boost domestic drone production for strikes against Russian targets.

“We don’t have additional money and this is the way — and this is fair,” he emphasised.

Zelenskyy also suggested that US President Donald Trump could encourage European leaders to act by unlocking Russian assets frozen in the United States.

“Trump has more than five billion of assets, maybe he will decide to spend this money — it’ll help,” he said. Past US actions, such as energy sanctions, had previously pushed “European partners also to some strong decisions,” he noted.

The Ukrainian leader further disclosed that Ukraine has begun co-producing interceptor drones with the United States.

“American-Ukraine production, co-production,” he said. “I hope that in future we will have more.”

By Sabina Mammadli