Kyiv is reporting a growing willingness among European allies to restart serious talks on how to use the roughly €210 billion in Russian central‑bank assets that have been immobilised in the European Union since the war began. A senior Ukrainian official, who asked to remain anonymous, told Reuters that the appetite for a solution is rising after an informal EU foreign‑ministers meeting in Brussels.

Ukraine’s urgent budget needs

Ukraine faces a budget deficit of more than $32 billion this year and expects a similar shortfall for 2027. The government says it needs an additional €27 billion (about $31 billion) for defence spending in 2026 alone. Finance Minister Serhii Marchenko said Kyiv is pressing partners to act quickly and creatively to bridge the gap.

European debate over frozen funds

Countries including the Netherlands, Poland, Spain and Sweden have suggested reopening the debate on whether the frozen assets can be tapped. Some allies have long opposed the idea, citing legal risks and the principle that the assets belong to Russia. Belgium, where the depository Euroclear is based, has resisted proposals out of concern for possible Russian retaliation or litigation.

Marchenko told Euronews that Ukraine wants the discussion to shift responsibility from Belgium alone to all 27 EU members, arguing that the funds should not be held hostage as a negotiating chip.

Potential path forward

Ukraine’s officials say they are ready to consider changing the legal jurisdiction for part of the frozen assets to make them accessible for immediate use. The government is also in talks with the International Monetary Fund about next year’s budget plans.

While the EU has not yet committed to a concrete plan, the senior official said the growing readiness among partners signals a possible breakthrough that could provide critical financing for Ukraine’s defence and reconstruction efforts.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.