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Ukraine's Western partners and other allies froze around $300 billion in Russian assets at the start of the full-scale invasion in 2022, with roughly two-thirds held at the Belgium-based financial services company Euroclear.
While some partners, like the U.S., have been pushing for funneling these funds directly to Kyiv, European countries have been more hesitant, fearing economic and legal pitfalls.
The EU is instead working on a plan to use the profits generated by the frozen assets to fund defense assistance for Ukraine.
Opinion: Answering your burning questions on Russia’s frozen assets
There’s so much news and noise on the issue of using frozen Russian assets for Ukraine, so I thought it useful to put out a quick Q&A on the issue. How much money are we talking about? There are around $320 billion in Russian central bank assets currently
Timothy Ash
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