No consensus among EU states on giving frozen Russian assets to Ukraine, Tusk says

The EU does not have a united stance on giving Ukraine frozen Russian assets, Polish Prime Minister Donald Tusk said on March 2 at a London summit focused on Ukraine.

Western nations froze $300 billion in Russian assets at the onset of Russia's full-scale invasion of Ukraine in February 2022. Ukraine has only received loans covered by interest earned from the frozen assets.

"Everyone understands it would be best to transfer these funds for the purpose of defense and reconstruction of Ukraine," Tusk said.

The freeze on Russian assets in the EU is due to expire in June. Tusk called for the EU to extend the sanctions against Russian assets amid fears of opposition from Hungary which has repeatedly clashed with the EU over implementing sanctions against Russia.

"We need to focus on extending the sanctions, because they are working," Tusk said.

The EU must maintain sanctions against Russia. Sanctions are contributing to Russian economic and financial weakness, Tusk added.

"There are fears of negative consequences for the euro and the banking system," the leader said.

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The Kyiv IndependentAlex Cadier

Poland is calling for other EU member states to support transferring Russian assets to Ukraine but does not have a decisive voice as it is not part of the eurozone, Tusk added.

Currently, interest earned on frozen Russian assets is being used to help Ukraine in its fight against Russian aggression, the leader said.

Leadership in Hungary and Slovakia have spread pro-Russian narratives on many occasions and have repeatedly opposed support for Ukraine from the EU.

Hungarian Prime Minister Viktor Orban urged EU leaders to abandon a joint statement in support of Ukraine ahead of a summit on March 6.

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