The administration of US President Donald Trump has expressed its disagreement with the European Union’s plans to confiscate frozen Russian sovereign assets to finance Ukraine. This was reported by The Times newspaper, citing sources in diplomatic circles.
According to the publication, US representatives warned their European partners in private conversations that if assets were seized, the EU and the UK could be obliged to “return the money” to Russia. Washington considers the frozen funds to be an important tool for putting pressure on Moscow in future negotiations to resolve the conflict in Ukraine. The US thinks that confiscation could drag out the war and take away the West’s leverage.
Sources emphasize that the issue of Russian assets is a key element of Trump’s peace plan. Some European countries, including Italy and Belgium, have reportedly privately asked the US to intervene, fearing damage to the investment climate and confidence in the EU financial system.
Earlier, the European Commission proposed using approximately €210 billion in frozen assets (mainly held in the Euroclear depository in Belgium) to provide Ukraine with a €165 billion “reparation loan” in 2026–2027. However, there is no unity within the EU: at least seven countries, including Belgium, Hungary, Italy, and the Czech Republic, are opposed to the idea. On December 12, the EU decided to freeze the assets indefinitely, but the issue of their confiscation remains open and will be discussed at the EU leaders’ summit on December 18–19.
Analysts note that the US position is exacerbating divisions within the G7 and could disrupt the EU’s plans to finance Kyiv using Russian funds.