EUROPE REJECTS U.S. PLAN TO UNFREEZE RUSSIAN ASSETS
The Trump administration has reportedly proposed unfreezing part of Russia’s sovereign assets and transferring the money into a financial vehicle controlled by Washington—supposedly to help revive peace negotiations.
Steve Witkoff and Jared Kushner presented the proposal during talks in Miami with Ukrainian and European officials. Europe rejected it.
Around €260 billion in Russian sovereign assets remain frozen, most of them within the European Union. These funds are among Europe’s strongest remaining sources of leverage over Moscow and could eventually support Ukraine’s reconstruction or cover Russian reparations.
They should not be returned to Russia, surrendered to Washington or placed inside a fund controlled by an administration seeking concessions from Ukraine. The United States cannot simply ask Europe to relinquish control over assets held under European jurisdiction, particularly when European countries will carry much of the long-term financial and security burden created by Russia’s war.
A peace settlement should determine how Russia pays for the destruction it caused—not provide Moscow with an early financial reward simply for returning to negotiations. Europe understands the leverage it possesses, and it appears unwilling to give it away because Washington asked.