Ursula Von der Leyen proposes using profits from frozen Russian assets to arm Ukraine

European Commission President Ursula von der Leyen proposed on Wednesday using profits from frozen Russian assets to finance military equipment for Ukraine. “It is time to start discussing using windfall profits from frozen Russian assets to jointly purchase military equipment for Ukraine,” von der Leyen said in a speech to the European Parliament in Strasbourg. How to use Russian state assets that were frozen after Russia launched its invasion of Ukraine two years ago is the subject of intense discussion, raising thorny questions legal.

The option of confiscating these funds arouses strong reluctance within the 27, but the EU is working on ways to use the income generated by them. “With or without the support of our partners, we cannot let Russia win,” insisted the President of the European Commission. Referring more broadly to the situation of the EU, she insisted on the necessary strengthening of European sovereignty which consists “of taking responsibility ourselves for what is vital, even existential, for us”.

“The threat of war may not be imminent, but it is not impossible,” she stressed. “The risks should not be exaggerated but we should be prepared for them.” Ursula von der Leyen congratulated Sweden on its upcoming membership of NATO, “a historic step for this country and for our common security”.