European Parliament President Manfred Weber has intensified calls for EU leaders to seize and repurpose the approximately €140 billion in Russian assets held within European jurisdictions to directly aid Ukraine. Speaking to German news magazine “Focus”, Weber argued that deploying these frozen funds represents a crucial demonstration of European resolve in the face of Russia’s ongoing aggression.
The CSU politician framed the proposal as a matter of fundamental justice, insisting, “Russia started this war. Russia must pay for the damage it has caused”. This stance directly challenges established norms regarding sovereign assets and raises complex legal and political considerations that will likely dominate discussions at the upcoming European Council meeting.
Weber’s remarks also reflected a deepening skepticism regarding Russian President Vladimir Putin’s willingness to pursue a peaceful resolution. He asserted that Putin possesses the unilateral power to halt hostilities and order a ceasefire, yet has consistently refrained from doing so, suggesting a deliberate campaign of imperial expansionism. “Putin can stop this terrible war immediately” Weber stated, “he could order a ceasefire at any time. He hasn’t done so because he has no interest in peace.
The proposal to leverage frozen assets is not without potential ramifications. Legal challenges from Russia are anticipated and the precedent it sets – potentially impacting the security of assets held within the EU by other nations – has sparked debate among member states. Critics also argue that such actions could be viewed as a form of economic warfare, further escalating tensions. However, Weber’s forceful advocacy underscores a growing sentiment within the European Parliament that a more aggressive and assertive approach is necessary to support Ukraine and deter further Russian aggression, placing significant pressure on EU leaders to explore the feasibility of such a measure.
