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EU states revive plan to use frozen Russian assets for Ukraine, FT reports - Finance news and analysis from Global Banking & Finance Review
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EU states revive plan to use frozen Russian assets for Ukraine, FT reports

Published by Global Banking & Finance Review

Posted on August 27, 2026

1 min read

· Last updated: August 27, 2026

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Finance Banking Markets European Union Ukraine

EU States Push Brussels to Use Frozen Russian Assets for Ukraine Funding

EU Countries Urge Action on Russian Sovereign Assets

Coalition of States Calls for Renewed Efforts

Aug 27 (Reuters) - EU countries, including Sweden, the Netherlands, Spain and Poland, are urging Brussels to revive efforts to use immobilised Russian sovereign assets to fund Ukraine, the Financial Times reported on Thursday. 

Letter to the European Commission

A letter from a coalition of states to the European Commission will call on the EU's executive to restart work on plans to fund Ukraine using Russian central bank assets, the FT reported, citing four people briefed on the document.

Reporting and Editorial Credits

(Reporting by Anusha Shah in Bengaluru; Editing by Jacqueline Wong)

Key Takeaways

  • A letter dated August 27, 2026, calls on the Commission to revisit using immobilised Russian sovereign assets to support Ukraine’s financial and defence needs (kyivindependent.com)
  • EU has already channelled windfall interest from frozen assets—€1.4 billion in early August and totaling €8 billion—to Ukraine via previous mechanisms (cyprus.representation.ec.europa.eu)
  • Previous attempts to use the assets were stalled due to concerns—especially from Belgium—over legal and financial risks, requiring risk‑sharing guarantees among EU member states (euractiv.com)

References

Frequently Asked Questions

Which EU countries are involved in reviving the plan to use frozen Russian assets?
Sweden, the Netherlands, Spain, and Poland are urging Brussels to restart efforts.
What is the purpose of using frozen Russian assets according to the article?
The purpose is to fund Ukraine using immobilised Russian sovereign assets.
Who is being urged to take action on frozen Russian assets for Ukraine?
The European Commission is being urged by a coalition of EU states.
What source reported on the EU's revived plan?
The Financial Times reported on the plan, citing people familiar with the document.

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