Four EU nations urge European Commission to use frozen Russian assets for Ukraine

On August 27, 2026, a coalition of four European Union member states—Poland, Spain, the Netherlands, and Sweden—initiated a formal push to restart efforts to utilize frozen Russian state assets to support Ukraine. The nations are set to deliver a letter to the European Commission advocating for the deployment of these funds to address a widening financing gap in Kyiv. Approximately 210 billion euros in Russian sovereign assets remain immobilized within the EU following the full-scale invasion of Ukraine in February 2022.

This initiative revives a controversial legal and economic debate that had been largely sidelined in December 2025. At that time, EU leaders opted to establish a 90 billion euro loan facility guaranteed by the European budget instead of seizing or directly utilizing the frozen principal. The vast majority of these assets, roughly 90 percent, are held in Belgium under the management of the financial clearinghouse Euroclear.

The signatory nations acknowledge the legal complexities involved but argue that the lack of progress in diplomatic negotiations with Russia necessitates a more assertive approach. While the letter calls for solutions that respect legal interests, it emphasizes the urgent financial requirements of Ukraine. The European Commission has yet to issue a formal response or propose a revised framework following the request.