Alexander Kolyandr

Why won’t the West use frozen Russian assets to help Ukraine?

Credit: Getty images

Since Moscow launched its full-scale invasion of Ukraine three years ago, there has been a great deal of temptation to seize Russian sovereign assets frozen in the West. There is, after all, an urgent need and moral imperative to make the aggressor pay and use Russia’s money for Ukraine’s cause. But the reality is that unless European governments show urgent determination, Russian money is unlikely to be used to support Ukraine in its totality any time soon. 

Amid the spat between Volodymyr Zelensky and Donald Trump last week, which resulted in the US stopping military aid to Ukraine, the issue of financial support for Kyiv has never been more critical. No wonder, then, that the plan to use Russian frozen assets to buy arms and time for Ukraine has resurfaced.

Russian assets, frozen in Europe, have a diminishing value

This idea has been floating around since the start of the war, supported by the US and the UK.

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Written by
Alexander Kolyandr

Alexander Kolyandr is a researcher for the Centre for European Policy Analysis specialising in the Russian economy and politics. Previously he was a journalist for the Wall Street Journal and a banker for Credit Suisse. He was born in Kharkiv, Ukraine and lives in London.

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