Sybiha to EU: Make Russia Pay Now With a “Reparations Loan” From Frozen Assets

Ukraine’s Foreign Minister Andrii Sybiha urged European Union governments to approve a “Reparations Loan” that would allow the full use of frozen Russian assets to support Ukraine, according to Sybiha in a post on X on December 16. 

Sybiha’s appeal came ahead of an EU summit on December 18–19, as the bloc weighs a European Commission proposal to raise about $105 billion to help cover Ukraine’s financing needs in 2026 and 2027 through a loan structure backed by immobilized Russian state assets held in the EU. 

EU governments agreed last week to keep about $246 billion of Russian sovereign assets frozen for as long as needed, a step aimed at underpinning the planned loan and addressing concerns that the asset freeze could otherwise lapse. 

In his post, Sybiha outlined five arguments for moving now, including that the step would counter the Russian leader’s expectation that European support for Ukraine would fade, reinforce European unity and sovereignty, and shift costs away from taxpayers by making the aggressor pay. 

He also argued the move would strengthen Ukraine’s position in any negotiations and rejected warnings that broader use of frozen assets would threaten financial stability or the rule of law, urging EU member states to act “this week.” 

Earlier, it was reported that the European Commission proposed a roughly $227 billion “reparations loan” backed by cash balances from immobilized Russian state assets in the EU and structured to be repaid only after Ukraine receives war reparations from Russia.

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