French Economy and Finance Minister Roland Lescure stated that EU countries have reached a common understanding on how to quickly launch a scheme to use Russia’s frozen assets for Ukraine. At the European Commission level, only technical details remain to be settled.
He made the remarks before the Eurogroup meeting — the gathering of eurozone finance ministers — in Brussels.
“Belgium, France, Ireland, Germany — we are all together in this effort. The European Union speaks with one voice, and solidarity among us is complete, including on issues raised by Belgium,” Lescure emphasized.
According to him, the agenda focuses on technical details.
“Specifically, the use of Russian assets as collateral to provide additional financial support. This option seems technically feasible, legally and politically desirable. We are, of course, waiting for the Commission to resolve various issues, including Belgium’s concerns, so that we can move forward. At this stage, we are convinced this is a good option that should be explored and implemented quickly,” he explained.
The European Union will discuss on Thursday, November 13, two main ways to mobilize financial support for Ukraine.
The European Commission has proposed using frozen assets of the Russian Central Bank held in Europe — mainly in Belgium — as the basis for credit financing for Ukraine in 2026 and 2027. However, the EU executive body must consider certain risks for Belgium before the idea is approved by EU governments.
