President Volodymyr Zelenskyy said that Ukraine plans to use €210 billion ($247 billion) in frozen Russian assets held in the EU over several years to cover urgent financial needs, including weapons purchases, according to a European Pravda correspondent at a press conference with Dutch Prime Minister Dick Schoof in The Hague.
Zelenskyy outlined Ukraine's expectations for accessing the funds: "We are counting on being able to receive €40-45 billion ($47-53 billi )for 2026 and so on, counting on a total amount of €210 billion ($247 billion)."
The president emphasized that while Ukraine would prefer to use Russian funds for reconstruction, the scale of damage exceeds available frozen assets. "Of course, we would very much like to use this for the restoration of our state... It is fair that the Russians should pay for the destruction. But even €210 billion will not be enough. The amount of losses is three times higher," he said.
Given this gap, Zelenskyy stressed the need to direct Russian funds toward urgent expenses, including weapons procurement. He acknowledged that Ukraine currently faces reduced support from some countries.
"Frozen assets could balance the reduction in support in some countries. I do not see an opportunity for Ukraine to stand strong without this. I do not see how we can cover such a deficit with some incomprehensible alternatives or incomprehensible promises," Zelenskyy said.
The statement comes as Denmark has significantly reduced military support to Ukraine for 2026. Negotiations between the EU and Belgium over frozen assets have also been delayed due to Belgium's demands for additional guarantees.
Dutch Prime Minister Dick Schoof stated that the world will seek sources for reparations after the war ends.
