Key facts
- Sweden is renewing its push to use frozen Russian assets to support Ukraine.
- Foreign Minister Maria Malmer Stenergard cited Russia's hybrid attacks and aggressive behavior as justification.
- Several EU countries, including Poland, the Netherlands, and Spain, support discussing the use of these assets.
- Germany has recently identified Russia as responsible for hybrid attacks.
- Belgium has raised concerns about legal risks and the concentration of assets with Euroclear.
- Other EU nations, like Luxembourg, are seeking a solidarity mechanism to share potential risks.
Sweden is intensifying its efforts to utilize frozen Russian assets for Ukraine's support, with Foreign Minister Maria Malmer Stenergard pointing to Russia's escalating hybrid warfare and aggressive actions as a key driver for this renewed push. Stenergard, alongside her counterparts from Poland, the Netherlands, and Spain, has called for a discussion among EU foreign ministers on the matter, seeking a workable compromise from the European Commission.
Stenergard stated that using the frozen assets is "the right thing to do, the fair thing to do," particularly for taxpayers, and highlighted that Russia's behavior has become more aggressive, evidenced by hybrid attacks aimed at dividing European nations. This comes after Germany for the first time attributed hybrid attacks, including drone incidents at Leipzig Airport, to Russia.
However, the proposal faces hurdles, notably from Belgium, where the majority of the approximately 200 billion euros in frozen Russian assets are held by the clearing house Euroclear. Belgium fears potential legal challenges could lead to significant financial liabilities for the country. While Belgium has signaled openness to discussions, it emphasizes the need for shared risk. Luxembourg's Foreign Minister Xavier Bettel echoed this sentiment, calling for a solidarity mechanism among all 26 other member states to share any potential costs.
Despite these concerns, Stenergard urged the European Commission to swiftly present a proposal that addresses the risk-sharing aspect, emphasizing that Ukraine cannot afford to wait. The debate occurs as the EU negotiates its next seven-year budget, which includes substantial allocations for defense and direct support to Ukraine.