Ursula von der Leyen proposes using frozen Russian assets to purchase military equipment for Ukraine
European Parliament
February 28, 2024

Ursula von der Leyen proposes using frozen Russian assets to purchase military equipment for Ukraine

Speaking in the European Parliament today, European Commission President Ursula von der Leyen proposed to start using frozen Russian funds for military support to Ukraine.

I would like us to think bigger. It is time to start a conversation about using the windfall profits of frozen Russian assets to jointly purchase military equipment for Ukraine,” von der Leyen said. “There could be no stronger symbol and no greater use for that money than to make Ukraine and all of Europe a safer place to live.”

She also announced the EU would set up an Office for Defence Innovation in Kyiv. 

“This will bring Ukraine ever closer to Europe and it will enable all Member States to draw on Ukraine’s battlefield experience and expertise in industrial defence innovation,” von der Leyen added.

The European Commission President added it was time for Europe to step up on defence: “We simply do not have the time to skirt around the issue. With or without the support of our partners, we cannot let Russia win. And the cost of insecurity – the cost of a Russian victory – is far greater than any saving we could make now.” 

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