Renew Europe has called for the immediate use of frozen Russian assets to strengthen financial and military support for Ukraine.
With over €180 billion in Russian assets frozen across the European Union, Renew Europe has proposed an innovative mechanism that would provide Ukraine with much-needed resources. The plan involves a “reparations loan” system that uses frozen funds as collateral, serving as an advance payment on Russia’s future reparations obligations. This approach fully respects international law while maintaining financial stability across the Union.
Petras Auštrevičius MEP (Liberalų sąjūdis, LT), Renew Europe spokesperson for Ukraine, underlined the importance of decisive European action:
“The war in Ukraine is not only about Ukraine’s survival but about the future of Europe as a whole. While Russia continues to demand Ukraine’s capitulation as a condition for negotiations, we must ensure that President Zelenskyy’s peace plan is supported and that international law is upheld. Europe must play a full role in any peace process because the outcome of this war will shape our security architecture for decades to come.”
To turn this political commitment into action, the EU should move swiftly to adopt the reparations loan proposed by Renew Europe in its Estonia Declaration of 29 September.
Hilde Vautmans MEP (Open VLD, BE), Renew Europe coordinator in the European Parliament Foreign Affairs Committee, explained the reasoning behind the proposal:
“Europe must enhance its support so that Ukraine can endure this war and win it. Using frozen Russian assets as collateral for a joint European loan is a responsible and sustainable solution. It enables the Union to assist Ukraine without compromising financial stability. Our unity remains our strongest asset in confronting Russian aggression.”
With Ukraine facing increasing fiscal pressure and uncertainty about continued American support, Renew Europe has labelled the initiative a matter of urgency, stressing that any peace process must fully respect international law and Ukraine’s territorial integrity.
As Ukraine’s closest ally, Europe bears a special responsibility. Discussions about Ukraine’s future cannot be dictated by external powers. Any attempt to reward Russian aggression with territorial compromises or constrained peace arrangements is unacceptable.
Nathalie Loiseau MEP (Horizons, FR), Renew Europe coordinator in the European Parliament Security and Defence Committee, highlighted Europe’s responsibility to act:
“Preparing seriously for peace in Ukraine does not mean engaging with Vladimir Putin, who has shown no interest in peace. It means ensuring that Russia pays now for the war it started, by using its frozen assets to advance the reparations that Ukraine deserves. Europe must act decisively and demonstrate that it can shoulder its responsibilities, regardless of political changes elsewhere.”
Although discussions of a potential Putin–Trump summit in Budapest have been shelved, the episode has exposed dangerous fault lines within Europe that demand vigilance.
Marie-Agnes Strack-Zimmermann MEP (FDP, DE), Chair of the European Parliament Security and Defence Committee, firmly rejected such diplomatic overtures:
“A Putin summit in Budapest would be a clear insult to Europe. Viktor Orbán is drifting further away from European values. Instead of flattering a war criminal, Europe must use the frozen Russian assets to support Ukraine and defend freedom.”
There can be no settlement without Ukraine’s consent, no negotiations that bypass European interests and no concessions to Putin’s demands. Europe must pursue a lasting peace on Ukraine’s terms, ensuring stability and security across the continent.