Russian assets frozen in Europe remain a “real lever to force Russia into negotiations”
Kęstutis Budrys (Photo: Politico / Baldo Sciacca)
Lithuanian Foreign Minister Kęstutis Budrys stated that Europe must revisit the issue of using frozen Russian assets to finance Ukraine and increase pressure on Moscow. He… stated during remarks at the Politico Speakeasy event on the sidelines of the GLOBSEC security forum in Prague.
WHY THIS IS IMPORTANT
We are talking about funds that could become a primary source of financing for Ukraine and its post-war recovery without burdening Western budgets. British economist Timothy Ash proposes investing Russia’s frozen $330 billion in secure, high-yield funds or government securities, and transferring the resulting profits to Ukraine. In his view, this would allow Ukraine to access the full amount without the formal confiscation of Russian assets and significantly strengthen its military and negotiating positions – Read more in the author’s column on LIGA.net.
Budrys stated that the loan agreement with Ukraine for €90 billion was an important step, but not a final solution for Kyiv’s long-term needs.
“This is not the end,” Budrys said regarding the discussion on frozen Russian assets.
According to him, Russian state assets frozen in Europe remain a “real resource for supporting Ukraine” and a “real lever to force Russia into negotiations.”
Budrys stated that the discussion had effectively merely been postponed due to the loan agreement, but now it needs to be returned to the political agenda.
When asked whether he wanted to raise the issue of frozen assets again, the Lithuanian minister replied: “Yes.”
“I look forward to this discussion. This issue is not closed,” he emphasized.
REFERENCE
GLOBSEC is one of the largest international forums on security, defense, and geopolitics in Central Europe. In 2026, the forum takes place in Prague from May 21 to 23, bringing together politicians, military officials, diplomats, and representatives from NATO, the EU, the business sector, and think tanks from dozens of countries to discuss issues of war, security, technology, and the future of Europe.
According to Budrys, even after the current aid package concludes, Ukraine will continue to require significant funding.
“Who believes that money will no longer be needed after these two years?” said the Lithuanian Foreign Minister, adding that Ukraine is already facing a funding shortfall for security and defense needs.
- On May 8, Politico, citing EU diplomats and officials reported, that the Netherlands wants to resume the discussion within the EU regarding the use of frozen Russian assets to support Ukraine.