Ukrainians rally across dozens of countries to demand Europe use Russia’s frozen billions

The EU backed a €90 billion Ukraine loan with its budget while €210 billion in Russian central bank assets remain immobilized.
icuv demonstration at the eu commission on 12 december 2025
A protester holds a sign depicting Belgian Prime Minister Bart De Wever that reads, “Belgium—the capital of beer, waffles, and bloody Russian money,” outside the European Commission in Brussels on 12 December 2025. The rally called on Belgium to stop blocking an EU reparations loan for Ukraine. Credit: Anastasia Varvarina/ICUV.
Ukrainians rally across dozens of countries to demand Europe use Russia’s frozen billions

Ukrainians and their supporters are holding rallies across dozens of countries from 22 to 24 August, marking 35 years of Ukrainian independence with four demands—including that Europe use frozen Russian assets to fund Ukraine.

Among the rallies listed by ICUV are:

  • Saturday, 22 August: Seoul—Seoul Plaza, 17:00.
  • Sunday, 23 August: Linköping—Stora torget, 16:30; Basel—Wettsteinbrücke, 15:00.
  • Monday, 24 August: Sydney; Lyon—Place Bellecour, 18:00; Nantes; Leipzig—Augustusplatz, 17:30; Thessaloniki—“Epoxon” Theater, 18:00; Vilnius—Cathedral Square, 18:00; Rzeszów; Alicante.

    ICUV and the Communities Army of Ukraine are supporting local Ukrainian communities in organizing the rallies. ICUV has published rally details and printable materials online.

    The demand has a number behind it

    About €210 billion in Russian central bank assets remain immobilized in the EU, most of them held in Belgium. When the European Council met in December 2025 to finance Ukraine through 2026 and 2027, one option was a €140 billion reparations loan based on those assets.

    Belgium opposed the proposal. The EU instead approved a €90 billion support loan financed through market borrowing and backed by its budget, leaving the Russian principal immobilized.

    If Russia launched this war, why are European citizens paying for it?



    That choice leaves European taxpayers covering the loan’s debt-servicing costs and bearing its financial risk while Russia’s assets remain untouched.

    If Russia launched this war, why are European citizens paying for it?

    The argument has moved before

    When Ukrainian communities rally, the answer from some politicians is familiar: legally impossible, governments will never agree.

    The #MakeRussiaPay campaign began nearly three years ago as a grassroots initiative and grew into a multi-level advocacy effort on one principle — Russia must pay for the war, not European taxpayers.

    At a rally in Brussels co-organized by ICUV, activists unrolled a meter-long receipt itemizing Russian crimes in Ukraine against the frozen Russian central bank assets held worldwide.

    Make Russia pay demonstration rally protest Prague Czechia
    Explore further

    Belgium says Europe’s €140 billion Ukraine plan could bankrupt it. Is that true?

    In 2024, G7 leaders agreed to provide about $50 billion in loans to Ukraine, to be repaid with revenues generated by immobilized Russian sovereign assets.

    In December 2025, Ukrainian communities rallied in 13 European cities on the eve of the European Council summit, and the reparations loan — dismissed as unrealistic a year earlier — was on the agenda inside the room.

    It did not pass. Ukrainian advocacy did not secure direct access to the frozen assets, and Belgium’s objection held. What changed is that the question is no longer whether Russia’s money can be used, but when, and under what legal structure.

    blood money christmas tree euroclear 14 dec 2025 brussels
    A Christmas tree made of blood-stained cash outside Euroclear, symbolizing Belgian profits from frozen Russian assets, Brussels, 14 December 2025. Photo: Anastasiia Varvarina

    What the rallies are asking for

    ICUV and the Communities Army are campaigning on four demands this year:

    • Make sanctions bite. Twenty-one packages have been adopted; Russia works around them through third countries, shadow fleets, and re-exports. The problem is enforcement, not new declarations.
    • Make Russia pay. Direct transfer of frozen Russian assets into a dedicated reconstruction and defense fund.
    • Sky shield. Ukraine intercepts drones effectively; Russia has shifted to mass ballistic strikes. A unified air-defense system with partners, countermeasures against guided bombs, and joint production of anti-ballistic systems.
    • Justice and accountability. In May 2026, 36 countries and the EU adopted an agreement establishing the Management Committee of the Special Tribunal on the Crime of Aggression. Its entry into force remains pending while some participating states complete internal procedures.

    Europe’s governments now face a straightforward choice: keep asking their own taxpayers to carry the cost of a war Moscow started, or use the money of the state that started it. This weekend, Ukrainians abroad will say which one they expect.

    Vlada Dumenko is the Head of Communications at the International Center for Ukrainian Victory and the co-coordinator of the global “Belgium, stop blocking the Reparations Loan” rallies.

    Editor's note. The opinions expressed in our Opinion section belong to their authors. Euromaidan Press' editorial team may or may not share them.

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