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Russia could try to reclaim some of its frozen assets through Ukraine's partners, President Volodymyr Zelensky confirmed to reporters on Oct. 17, without naming specific countries.
"We have this information, but we have discussed the details with European partners. Today, this is fully under Europe's control. That means it is safe for now," Zelensky said.
During talks with European counterparts on Oct. 9, U.S. officials floated the idea of releasing some of the 200 billion euros ($227 billion) in frozen Russian assets held in the EU to Washington as a bargaining chip in peace talks, according to media reports.
The proposal resurfaced as EU leaders gathered in Brussels for a summit on Oct. 15-16, where they firmly rejected handing the assets to the U.S.
Zelensky met with Belgian Prime Minister Bart De Wever on the sidelines of the summit on Oct. 15. The talks apparently failed to yield a breakthrough on the fate of funds in Russian assets that have been immobilized by Euroclear under Belgian jurisdiction since 2022.
As part of Kyiv's broader push for Europe to use frozen Russian funds to support Ukraine, Foreign Minister Andrii Sybiha described the direct use of the assets as "a fair approach" and said that "the aggressor must pay."
However, little progress has been made since four EU countries sought to revive the debate in August. The European Commission has been reluctant to put forward a concrete proposal until all 27 member states agree on how to proceed.