Europe Rebuffs US Plan to Move Frozen Russian Assets
The newspaper, citing four people briefed on the matter, said the idea surfaced at meetings in Miami last week between peace negotiators for President Donald Trump and officials from Ukraine, France, Germany, the United Kingdom, the European Union and NATO.
Special envoy Steve Witkoff and Jared Kushner, Trump’s son-in-law, laid out several ways the funds could be freed, the report said. One option was to route them into a newly created special-purpose vehicle operating under US oversight.
European delegates turned the proposal down, according to the paper. They said it caught European capitals and Kyiv off guard and cast doubt on how Washington intends to pressure Moscow to end its war on Ukraine.
A US official told the newspaper that the frozen assets had been raised in the context of a comprehensive peace deal, but that how the money would be released and spent was still under review. The official added that a range of ideas for using the immobilized funds after the war had circulated over time.
Ukrainian negotiators said they had also raised the subject with their American counterparts in earlier rounds of talks, the report said.
Western governments froze the Russian holdings in 2022 after President Vladimir Putin launched the war in Ukraine. Most of the money sits in the EU.
The assets have since become a flashpoint among Kyiv’s allies, who are divided over how to pay for Ukraine’s defense and rebuilding while making sure Russia bears the cost of the conflict.
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