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Zelenskyy: Decision on Frozen Russian Assets Coming by Year-End—Warns Putin a War of Attrition “Makes No Sense”
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![Photo of Vlad Litnarovych]( "Photo of Vlad Litnarovych")
Ukraine expects a decision on how to use frozen Russian assets before the end of the year and is already preparing contingency plans to ensure steady financing for defense and reconstruction, President Volodymyr Zelenskyy told journalists on October 28.
Zelenskyy said Kyiv’s priority is to deny Moscow any hope of bleeding Ukraine through a protracted war. He asked European partners to commit to stable financial backing for a defined period—“two to three years”—and proposed that frozen Russian funds be allocated either to weapons if the war continues or to reconstruction if it ends quickly.
He described the approach as both a political and financial lever to show Russia that a strategy of attrition will fail.
He warned that if Europe agrees to sustained financing, it will remove the logic of a war of exhaustion: “But for Putin, the most frightening thing about Russia’s assets is that Europe has sent a signal: there is no point in Putin continuing to wage a war of attrition against Ukraine,” he said. “Because there will be no financial exhaustion.”
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On diplomacy, Zelenskyy addressed talk of “shuttle” or trilateral diplomacy involving President Trump and Vladimir Putin.
He said Moscow would likely avoid direct talks with him and that Russia has little interest in a settlement reached without Ukraine’s participation.
Zelenskyy made clear Kyiv is willing to meet in almost any format—even “shuttle diplomacy”—“but not to have a deal decided for us,” he said.
He also cautioned that a US diplomatic breakthrough that ignores Ukraine’s position would not automatically bind Kyiv: Zelenskyy noted Washington understandably seeks a political success, but stressed that any agreement must reflect Ukraine’s interests.
“Why should President Trump negotiate with Putin without considering our stance? Who said we would then accept it?” he asked rhetorically.
Earlier, the United Kingdom called on Ukraine’s allies to finalize a deal on using frozen Russian assets to strengthen Kyiv’s position in potential future peace negotiations.
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