Russia has issued a sharp warning to the European Union after Brussels proposed using frozen Russian state assets to finance Ukraine’s war effort. Dmitry Medvedev, former Russian president and now deputy chairman of Russia’s Security Council, said on Wednesday that such a move would be seen in Moscow as a casus belli — an act that could justify war.
The EU is considering transforming around £123 bn in frozen Russian assets held in Belgium into a «reparations loan» for Kyiv. European Commission President Ursula von der Leyen said the plan would provide two-thirds of the funding Ukraine needs, helping Kyiv «defend itself and negotiate from a position of strength». She added that the United States supported the proposal.
Medvedev, known for his increasingly aggressive rhetoric toward the West, accused the EU of attempting to «steal» Russian money under the guise of reparations.
«Russia may well view this move as tantamount to a casus belli, with all relevant implications,» he wrote on X.
Belgium, where most of the assets are held by Euroclear, has raised legal concerns and warned it cannot bear the risk alone. EU officials say the plan does not constitute asset confiscation, arguing Ukraine would only repay the loan if Russia pays eventual war reparations.
The proposal comes as the US continues pushing for a negotiated settlement between Kyiv and Moscow. Despite this, von der Leyen said the plan was «positively received» by US Treasury Secretary Scott Bessent.
For the scheme to pass, at least 15 of the EU’s 27 member states, representing 65% of the bloc’s population, must approve it.
Kursiv Uzbekistan also reports that King Charles welcomed German President Frank-Walter Steinmeier to Windsor Castle on Wednesday evening for a glittering state banquet marking the first German state visit to the UK in 27 years.
