U.S. Proposal to Unfreeze Russian Assets to Advance Ukraine Peace
According to the report, the proposal "shocked" European supporters of Kyiv, who have refused to relinquish control over funds Moscow claims were "stolen."
As reported by the Financial Times on Wednesday, citing sources, the United States has proposed unfreezing billions of euros in Russian assets held within the EU to advance peace negotiations over Ukraine. Moscow has long described the freezing of its assets as an act of "theft" and has warned of significant retaliation should these funds be seized.
Four informed sources told the publication that the proposal was raised during last week’s talks in Miami, attended by U.S. special envoy Steve Witkoff and son-in-law Jared Kushner, along with officials from Ukraine, France, Germany, the United Kingdom, the European Union, and NATO.
The Washington proposal, presented as part of a comprehensive peace agreement, included several mechanisms for unfreezing the assets—among them transferring portions into a special-purpose vehicle overseen by the United States. However, specific arrangements remain undetermined. According to the Financial Times, various options regarding the use of these funds are still under discussion.
U.S. officials told the outlet that during the discussions, Washington urged Kyiv to present a plan for utilizing potential reconstruction funds in coordination with the World Bank, aimed at addressing entrenched corruption and establishing financial accountability mechanisms.
Nevertheless, according to the report, Kyiv’s European backers rejected the American proposal, declining to cede control over the assets; any such action would require unanimous approval from all 27 EU member states. The proposal reportedly left both the European delegation and Ukrainian officials "shocked," with some expressing confusion over Washington’s intentions.
"They were told this simply would not happen," said one source familiar with the discussions, speaking to the Financial Times.
In public statements, German Chancellor Friedrich Merz ruled out any compromise on Russian assets, asserting: "These assets must remain frozen in Europe. This is our matter, decided by us." Poland’s Foreign Minister Radek Sikorski was more direct, declaring that any return of funds to Russia could only occur "over our dead bodies."
Following the escalation of conflict in Ukraine in 2022, Western nations froze approximately $300 billion in Russian sovereign assets, most held at the Brussels-based European Central Securities Depository. Moscow has condemned the move as pure "theft."
While EU members broadly agree on using these funds to support Ukraine, proposals to directly confiscate them have faced strong resistance due to concerns about damaging the bloc’s commercial reputation and provoking legal retaliation from Moscow.
Belgium has emerged as the primary obstacle. Authorities fear that using Russian sovereign funds without Moscow’s consent could expose the European Central Securities Depository and Belgian taxpayers to massive legal liabilities.
Kremlin spokesperson Dmitry Peskov stated that Moscow had no prior knowledge of the alleged U.S. proposal. However, he emphasized that Russia would pursue every available means to recover what it describes as "stolen assets," including legal actions, lawsuits, and holding responsible parties accountable.
Before the Financial Times report was published, Trump announced last week a deal with Russian President Vladimir Putin allowing increased exports of Russian diesel to alleviate pressure on U.S. and global markets.
Additionally, Reuters cited sources on Wednesday indicating that Washington is considering easing sanctions on certain vessels. Western media have labeled these ships as part of Russia’s “shadow fleet,” previously used to transport Russian oil.
Tensions between Trump and Ukrainian President Zelenskyy continue to escalate. Trump attributed rising fuel prices to Kyiv’s strikes on Russian refineries and called for Ukraine to elect a "new president." Zelenskyy, meanwhile, said he felt betrayed by Trump over the diesel deal and restrictions on Ukraine’s use of Starlink.
Original: toutiao.com/article/1879171532269703/
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