Volodymyr Zelensky, the President of Ukraine, traveled to Brussels on Friday in an effort to garner more support from European leaders. This comes as the crisis of trust among allies has intensified due to recent actions by Donald Trump in support of Russia. Zelensky wrote on social media: "We all want this war to end in Europe, and for that, we need signals of strength. There must be real pressure on Russia and increased defensive support for Ukraine."
Security Crisis in Europe
Zelensky further emphasized the importance of cooperation and unity among European leaders, stating: "We must act together to save lives." However, during this summit, unity among European leaders is under significant strain. EU governments are negotiating the budget allocation for this 27-country bloc, while public dissatisfaction and the rise of populist parties have added challenges to these negotiations.
This financial and political crisis is currently heavily influenced by Trump's decision to open American markets to Russian diesel. This move, designed to alleviate price pressures in the United States, may shift the balance of the war in favor of Russia. Three European officials have warned that this decision could bolster Russia's financial resources while Ukraine is struggling to secure its funding.
Review of Frozen Russian Assets
On the first day of the summit, national leaders of the EU informally discussed options to assist Ukraine. One hot topic on the agenda was the use of frozen Russian financial assets in European banks. Most of these assets are held in Euroclear deposits in Brussels. Previous efforts to access these funds and send them to Kyiv had been halted due to legal concerns from the Belgian government and some other countries.
However, Sweden, Finland, and Germany are looking to revisit these assets. The European Commission is set to provide a new assessment of Ukraine's financial needs and available options to assist the country. Angela Merkel, the Chancellor of Germany, emphasized at the summit that financial support for Ukraine must be increased, stating: "We are not only defending Ukraine's territorial integrity but also the political order in Europe, which is under severe pressure from Russia."
Merkel also told reporters that the assets should remain in Europe and "this is our concern, and we will decide on it." Finnish Prime Minister Petteri Orpo criticized Trump's recent agreement with Putin regarding diesel, calling it a "terrible agreement." He stated: "We are in NATO, and the biggest threat to NATO is Russia. This is illogical."
Zelensky met on the first day of the summit with Bart De Wever, the Prime Minister of Belgium, who is a main opponent of the agreement on the assets, and thanked him for his country's support. De Wever stated that these assets should be considered as part of a future peace agreement. He pointed out that there may be individuals who wish to utilize these assets sooner for specific purposes.
