Europe Ultimately Lacks the Courage to Seize Russian Assets for Ukraine Aid

At the final critical moment, Europe still lacked the courage—to seize frozen Russian assets for aiding Ukraine.

Ukraine is currently in dire need of funds, as war is an extremely costly endeavor. Without financial support, Ukraine faces imminent shortages, with aid drying up by next quarter.

Frustratingly for Europe, the U.S. has stepped back, shifting from a leadership role to avoiding responsibility, leaving the EU as Ukraine’s primary lifeline.

The EU, also strapped for cash, eyed the roughly €210 billion in frozen Russian assets. European leaders vowed to act decisively this time, with European Commission President Ursula von der Leyen declaring that the 27 member states would not leave the negotiating room without an agreement.

German Chancellor Olaf Scholz emphasized, “I see no better option than using Russian assets,” warning that failure to do so would severely undermine the EU’s operational capacity for years.

However, divisions persisted. Germany strongly supported the move to avoid bearing the brunt of alternative funding, while Belgium—hosting €180 billion of the frozen assets—demanded guarantees against Russian retaliation.

Hungary, the Czech Republic, and Slovakia fiercely opposed the plan, with Hungarian Prime Minister Viktor Orbán stating, “Providing funds means declaring war.”

After a grueling 17-hour meeting, the EU opted against seizing Russian assets, instead approving a €90 billion loan package for Ukraine.

French President Emmanuel Macron called it the “most realistic and practical solution,” while Italian Prime Minister Giorgia Meloni hailed “common sense prevailing.” Ukrainian President Volodymyr Zelensky expressed gratitude, calling it a “significant boost to resilience.”

Germany, though dissatisfied, accepted the deal, framing the loan as a “decisive signal to end the war,” with potential future deductions from Russian assets—though Moscow is unlikely to comply.

Russia praised the EU’s restraint, with President Vladimir Putin condemning any asset seizure as “theft.”

The episode highlights Europe’s internal disunity and external pressures, particularly from the U.S., whose shifting stance complicates EU decision-making.

As the war drags on, Ukraine fights with dwindling resources, Europe hesitates to concede, and the U.S. remains aloof. The €90 billion loan reflects a weak, indecisive Europe—one that talks tough but falters when action is needed.

Ultimately, the war’s toll continues, with no clear resolution in sight. The bitter reality remains: land may stay with Russia, resources benefit the U.S., debt burdens the EU, and glory—if any—belongs to Ukraine.