The Netherlands, Poland, Spain and Sweden wrote the European Commission on Wedneday urging it to kickstart a stalled plan to use Russian assets frozen in Europe's banks and clearing houses to plug a $26.8 billion gap in Ukraine's defense funding. File photo by Patrick Seeger/EPA-EFE
Aug. 27 (UPI) -- The Netherlands, Poland, Spain and Sweden wrote the European Commission urging it to kickstart a stalled plan to use Russian assets frozen in Europe's banks and clearing houses to plug a $26.8 billion gap in Ukraine's defense funding.
The letter to the EU's top foreign policy chief on Thursday calling for another look at ways to tap into the $244.5 billion of assets came ahead of an informal meeting of foreign ministers being hosted by Ireland on Sept. 1-2, according to Politico, The Kyiv Independent and The Financial Times.
"Ukraine needs more financial support in both the short and long term. We believe now is the time to revert to the issue of how we can make further use of Russia's immobilized assets for the benefit of Ukraine," reads the letter, which was addessed to Kaja Kallas and Irish Foreign Minister Helen McEntee.
The call comes three months after the Netherlands raised the issue at a closed-door meeting of the Economic and Financial Affairs Council, arguing that a deal agreed in December for a conditional $105 billion loan over 18 months, would not be enough to keep Ukraine afloat for long.
