Zelenskiy Urges EU to Pressure Russia with Frozen Assets

President Volodymyr Zelenskiy urges Ukraine's allies to use frozen Russian assets to support Ukraine, aiming to make Russia's war effort seem futile. He calls for decisive action at an EU summit, amid resistance from some EU leaders concerned about legal risks.

President Volodymyr Zelenskiy made a strong appeal to Ukraine's Western allies on Wednesday, urging them to leverage frozen Russian assets to bolster Kyiv's defense and pressure Russia to cease its aggression. This plea comes ahead of a critical European Union summit focused on Moscow's financial holdings.

Zelenskiy emphasized the need for a unified response that would render Russia's aspirations to continue its conflict meaningless, by showing unwavering support for Ukraine. He called on the EU to decide on deploying nearly $250 billion of frozen Russian sovereign assets, primarily held in Belgium's Euroclear, to aid Ukraine's financial stability.

The EU has agreed to indefinitely freeze these assets, avoiding periodic voting. However, resistance from some European leaders persists due to potential legal implications. Zelenskiy highlighted Russia's unwavering commitment to the war, countering claims from some U.S. circles about Moscow's willingness for peace. Meanwhile, Russian President Vladimir Putin asserted that further territorial gains would be pursued if a peace settlement isn't negotiated.

(With inputs from agencies.)