EU Moves to Use Russian Asset Profits for Ukraine Aid

European Union leaders have proposed a final legal step to fund Ukraine using frozen Russian assets. The plan aims to provide Kyiv with crucial financial support by tapping into profits generated by these immobilized funds. Western nations froze approximately $300 billion in Russian central bank assets after the 2022 invasion. These assets remain in financial institutions, primarily in Europe, but cannot be accessed by Moscow. The new proposal focuses on using the profits, or windfall gains, earned from holding these assets. Officials describe the move as a last-ditch effort to create a sustainable funding stream for Ukraine's defense and economy. Previous attempts involved complex legal structures to use the assets without seizing them outright. This latest plan seeks to navigate remaining legal hurdles to direct the profits to Kyiv. If approved, the measure would help keep Ukraine solvent amid ongoing conflict. The EU is working to finalize the proposal for member states to consider.