The lawmakers proposed creating a special EU mechanism that would assume and shar the legal risks and enable the assets to be transferred as a “loan against future reparations.”
The letter was signed by 123 of the European Parliament’s 720 members. Journalists described the appeal as significant political pressure from a cross-party group of MEPs on the European Commission and the Council of the EU.
The MEPs backed an initiative by Sweden, Poland, the Netherlands, and Spain to resume discussions on using frozen Russian assets for Ukraine.
The lawmakers said the current joint EU loan of EUR90 billion ($105.3 billion) for 2026-27 would not be enough.
They emphasized that Ukraine needs additional financial support in both the short and long term, particularly because current estimates put the damage from the Russo–Ukrainian war at more than EUR600 billion ($702 billion).
“The principle must be clear: Russia must bear the financial consequences of its war of aggression,” the letter said.
“Further use of Russia’s frozen sovereign assets would not
only provide Ukraine with urgently needed support, but also maintain economic
pressure on Russia.”