Russia Warns EU of “Far-Reaching Consequences” Over Plan to Use Frozen Assets for Ukraine

Moscow’s ambassador to Germany on Friday sharply criticized a European Union proposal to use frozen Russian state assets to help finance Ukraine, warning it would have “far-reaching consequences” for the bloc.

“Any operation with sovereign Russian assets without Russia’s consent constitutes theft,” Ambassador Sergey Nechaev said in a statement to AFP, adding that such an “unprecedented step” risked destroying the EU’s business credibility and dragging European governments into “endless lawsuits.”

The warning comes as EU leaders search for new ways to keep Ukraine financially afloat amid intensifying battlefield pressure and uncertainty over U.S. support, with President Donald Trump pushing for a settlement they fear may disadvantage Kyiv.

EU plan faces internal resistance

The EU this week outlined a proposal to tap frozen Russian assets to support Ukraine with €90 billion over the next two years. But the initiative faces opposition from Belgium, whose Euroclear clearinghouse holds the bulk of the assets and fears major legal repercussions.

Nechaev argued that the proposal revealed Europe lacked the resources to continue aid at current levels, and claimed the move would undermine the global financial system — “primarily striking the European Union.”

Brussels negotiations intensify

German Chancellor Friedrich Merz met Belgian Prime Minister Bart De Wever and European Commission President Ursula von der Leyen in Brussels on Friday to discuss the plan.

Merz described the meeting as a “very constructive exchange” but acknowledged Belgium’s “undeniable” concerns. Any solution, he said, must ensure that all EU states “bear the same risk.”

According to Merz’s spokesman Stefan Kornelius, the leaders agreed to continue talks with the aim of reaching a common position ahead of the EU summit on December 18–19.