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“Witkoff Needs to See a Psychiatrist”: EU Officials Reject Trump’s Frozen Assets Plan
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![Photo of Ivan Khomenko]( "Photo of Ivan Khomenko")
European Union officials have voiced strong opposition to a new US proposal, led by Donald Trump’s envoy Steve Witkoff, to use frozen Russian state assets for American-led reconstruction in Ukraine—while claiming 50% of the profits.
The plan, part of a broader 28-point ceasefire framework, has drawn sharp criticism in Brussels, with one senior EU politician reportedly stating that “Witkoff needs to see a psychiatrist.”
According to Politico on November 21, multiple European officials reacted with outrage to the proposed use of approximately $100 billion in immobilized Russian assets for US-managed postwar investment projects.
“The Europeans are exhausting themselves trying to find a viable solution to use the assets for the benefit of Ukrainians and Trump wants to profit from them,” one EU official told Politico. Another described the idea as “scandalous,” while a senior official from Brussels emphasized that Trump “has no power to unfreeze assets held in Europe.”
The US proposal reportedly outlines a $100 billion investment from Russian state assets in “US-led efforts for Ukraine’s reconstruction,” with an additional $100 billion expected from European contributions.
The plan specifies that “the United States will receive 50% of the profit from this activity,” according to Politico. It also includes provisions to use the remaining assets in a joint American-Russian investment mechanism aimed at promoting “global stability and mutual economic interests.”
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The assets in question are mostly held within the Euroclear clearinghouse in Belgium and total around €140 billion. These funds have been frozen by the EU as part of sanctions imposed after Russia’s full-scale invasion of Ukraine. The European Commission has been working for months on a plan to direct proceeds from these assets toward a so-called “reparations loan” for Ukraine.
According to Politico, European diplomats fear the US proposal could derail delicate negotiations among the EU’s 27 member states, which are attempting to finalize a legal structure allowing the assets to be used as collateral for loans to Ukraine.
Under the current EU plan, Kyiv would only be required to repay the funds if and when Russia agrees to pay reparations under a future peace deal.
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Belgium, where the majority of the assets are held, has expressed hesitation due to legal and financial exposure, particularly the risk of retaliation from Moscow. The added pressure from the US proposal may make it more difficult to secure Belgium’s approval, potentially jeopardizing the broader European effort.
Earlier, President Donald Trump told Fox Radio that Ukraine has until November 27 to accept a US-backed peace plan, calling it “an appropriate time.” He also confirmed plans to impose “very powerful” new sanctions on Russia, while rejecting any possibility of lifting existing oil sanctions.
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