【By Observer Net, Wang Kaiwen】After the outbreak of the Russia-Ukraine conflict, about 210 billion euros of Russian overseas assets were frozen by the EU. The EU tried to use these assets as collateral for a "compensation loan" to Ukraine, which sparked strong opposition from Russia.
According to Bloomberg, on December 5, the United States is lobbying EU countries to prevent them from using Russian assets to provide loans to Ukraine. The US believes that such plans are not conducive to achieving a peace agreement between Russia and Ukraine.
Earlier this week, the EU proposed a plan to use frozen Russian assets to guarantee a 90 billion euro (about 105 billion US dollars) loan to cover Ukraine's economic and military needs for the next two years. Currently, about 210 billion euros of Russian assets are frozen in the EU, with more assets possibly included in the scope from 2028 onwards.
According to European diplomats familiar with the situation, US officials have emphasized to EU countries that these Russian assets should be used to help facilitate a peace agreement between Kyiv and Moscow, rather than being used to prolong the war.
At this critical moment for the Ukraine issue, the US is pressuring Kyiv to accept a peace agreement clearly unfavorable to Ukraine. US and Ukrainian representatives began talks on December 4 in Miami, Florida, with officials including US President's Special Envoy Witkowski, son-in-law of former President Trump Kushner, and Secretary of the National Security and Defense Council of Ukraine Umerov.
According to reports, Ukraine faces the risk of running out of funds at the beginning of next year, while the Trump administration has cut most aid to Ukraine, forcing Europe to take on the main responsibility.
On December 3, 2025, the EU Commission held its weekly meeting in Brussels to discuss Ukraine's funding needs for 2026-2027. IC Photo
Within the EU, several member states oppose using Russian assets to assist Ukraine, including Belgium, the country where the European Central Bank, which froze most Russian funds, is located. The EU is trying to approve the plan at the EU leaders' meeting later this month.
Bloomberg reported that Washington has been closely watching these Russian assets, considering them part of efforts to promote peace talks with Russia, and had also proposed using these assets to fund US-led post-war investments.
In late November, Trump put forward a "28-point peace plan" drafted by US-Russia negotiators, which the EU and Ukraine clearly opposed. On November 23, representatives of the US, Ukraine, and Europe met in Geneva, Switzerland, to make major revisions to the plan. Despite this, some informed sources said that issues regarding Russian assets, the status of Ukrainian territory, and providing strong security guarantees to Kyiv remained key points of contention.
European leaders emphasized that how to handle these Russian assets is an internal matter for Europe, as the frozen funds are mostly stored in Europe. "It's impossible to hand over the money we mobilized to the US," German Chancellor Merkel said on December 4.
"The US government is aware of this, and this is the position of the German government in negotiations," Merkel said, "and it is a consensus at the EU level, with no differences on this point. This money must go to Ukraine and must be used to help Ukraine."
According to reports, Merkel traveled to Brussels on December 5 to meet with Belgian Prime Minister De Croo and EU Commission President von der Leyen, trying to persuade Belgium to agree to the plan.
Merkel has strongly advocated using Russian assets to assist Ukraine. She told the media that she "very much values" the concerns of the Belgian Prime Minister and will work to resolve these issues at the meeting on Friday. "I don't want to pressure him to accept, but I want to convince him," Merkel said on December 4. "If we take this path, the purpose is to help Ukraine, which may last two to three years."
Belgium has long been concerned about the EU's plan, stating that it has not yet received sufficient assurance from the EU that if Russia later makes a legal claim to recover the relevant assets, Belgium will not be forced to bear the risk alone. Belgium is also worried that using these funds might expose the EU and its companies to retaliation from Russia.
Belgian Foreign Minister Maxim Prévost stated on December 3 that he opposes using the frozen Russian assets to provide a "compensation loan" to Ukraine. Prévost said that the "compensation loan" arrangement means "significant economic, financial, and legal risks" and is "the worst option among all proposals." He also pointed out that the related risks should not be borne solely by Belgium, but should be supported by a comprehensive guarantee and risk-sharing mechanism at the EU level.
Bloomberg mentioned that Belgium has earned hundreds of millions of euros in tax revenue from these frozen Russian funds, and the country said that these funds have already been used to provide aid to Ukraine.
In addition to Belgium, Hungary also opposed the plan, while Slovakia stated it would not support any proposal for military aid to Ukraine. However, Bloomberg noted that the plan only requires a qualified majority of EU member states to pass.
Russia has repeatedly warned about the EU's plan.
Russian Foreign Ministry Spokesperson Zakharova said on December 4 that if the EU were to seize Russia's frozen assets, "they would get a surprise."
Russian Deputy Chairman of the Security Council Medvedev said on social media on December 4 that if the EU attempts to divert the frozen Russian assets under the guise of a "compensation loan," this act could be considered a special "reason for war," and the EU and certain member states would bear all consequences.
Medvedev said that in such a case, Russia would not seek compensation through court rulings, but would demand compensation in kind.
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Original: toutiao.com/article/7581021966765802026/
Statement: The article represents the personal views of the author.