EU's Kallas says Russia won't get frozen assets back without paying reparations

European Union foreign policy chief Kaja Kallas said on Saturday that Russia’s frozen assets will not be returned unless Moscow pays reparations for its invasion of Ukraine.

Speaking ahead of an EU foreign ministers' meeting in Copenhagen, Kallas emphasized, "We can't possibly imagine that ... if there is a ceasefire or peace deal, these assets are given back to Russia if they haven't paid for the reparations."

The EU currently has approximately 210 billion euros ($245.85 billion) of Russian assets frozen under sanctions imposed due to Russia's actions in Ukraine.

While some EU countries, including Poland and the Baltic states, have called for the confiscation of these assets to support Ukraine, major EU powers France and Germany, along with Belgium (which holds most of the assets), have opposed such measures.

France and Germany have pointed out that the EU plans to use future profits from the frozen assets to fund support for Ukraine, but have raised legal concerns about outright confiscation.

Diplomats suggest the discussion is now shifting toward how these funds might be utilized once the war in Ukraine concludes.

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