Joseph E. Stiglitz & Andrew Kosenko explain why it is in Europe's interest to mobilize frozen Russian assets to ensure Ukraine's survival.
Economics
Nov 28, 2025
Joseph E. Stiglitz
and Andrew Kosenko
As many European leaders acknowledge, the United States has left Europe (including the United Kingdom and Norway) with no choice but to see to its own defense. Using frozen Russian assets to provide a Reparations Loan to Ukraine is a forceful step in this direction that Europeans could take without US involvement.
With US aid stalled, only Moscow’s immobilised billions can keep Ukraine fighting.
Some European countries have raised concerns about potential legal challenges to the 'reparations plan' for Ukraine.
The European Commission is considering two mechanisms: a reparations loan funded by immobilized Russian central bank assets held…
The European Commission proposed using $163.2 billion of Russia's frozen assets as a loan to help Ukraine defend itself against…
Moscow will demand compensation from Europe for damages caused by the war in Ukraine and seek return of $300 billion in frozen…
Russia's central bank says it is suing Belgium's Euroclear in court following an EU bid to use Russian assets to aid Ukraine.
EU urgently seeks agreement on using frozen Russian assets for Ukraine, as US touts other ideas
