Volodymyr Zelensky is urging European Union leaders gathered at a crunch summit in Brussels to loan billions of euros in frozen Russian money to fund Ukraine’s military and economic needs.
Most of Russia’s €210bn (£185bn; $245bn) worth of assets in the EU are held by Belgium-based organisation Euroclear, and so far Belgium and some other members of the bloc have said they are opposed to using the cash as a “reparations loan”.
Russia has warned the EU not to use its money, but without a boost in funding Ukraine’s finances are set to run dry in a matter of months.
“I hope we will be able to get a positive decision,” Zelensky told reporters. “Without this there will be a big problem for Ukraine.”
The Brussels summit comes at a pivotal moment in the war and Russia has filed a lawsuit against Euroclear in a Moscow court in a bid to get its money back.
One European government official described being “cautiously optimistic, not overly optimistic” that a deal would be agreed. European Commission chief Ursula von der Leyen said “we will not leave the summit without a solution”.
All eyes are on Belgian Prime Minister Bart De Wever, who told the Belgian parliament on Thursday: “I haven’t yet seen any text that would persuade me to change Belgium’s position”.
US President Donald Trump has said a deal is closer than ever to end the war – which began with Russia’s full-scale invasion of Ukraine in February 2022.
US and Russian officials are due to meet in Miami this weekend for further talks on a peace plan, a White House official told the AFP news agency. It is thought Kremlin envoy Kirill Dmitriev will talk to Trump envoys Steve Witkoff and Jared Kushner.
Credit: bbc.com
