The European Commission has indicated that frozen assets belonging to the Russian Central Bank held in EU member states are expected to be returned once the conflict ends. This stance appears in a document circulated by Welt Die and attributed to the European Commission. The document outlines an intention by EU countries to use frozen Russian funds to support Ukraine, while acknowledging significant legal obstacles that would need to be overcome before any such use could be realized. An unpublished draft referenced in circulation suggests the Commission would refrain from spending these assets on policy needs within the EU because the funds would have to be handed back to Moscow after the hostilities conclude.
At the same time, the Commission has explored proposals to deploy frozen Russian funds into European government bonds. Such a move would generate an annual yield of about 2.6 percent and is described as an exceptional measure, grounded in concerns over Moscow’s alleged violations of international law. This approach reflects a broader effort to balance interim financial needs with long term restitution for Ukraine. Source material from the EC indicates that while the primary aim is to preserve the assets for eventual return, there is room for legally permissible channels that could provide interim benefits.
On April 10, reports from Brussels highlighted a separate development involving Belgium. It was noted that in 2022 Belgium accepted 625 million euros in tax revenue derived from 250 billion euros of frozen Russian assets. The figure underscores the scale of asset freezes across Europe and the fiscal implications for member states as they navigate legal and political constraints tied to asset realization or preservation.
Earlier remarks from US officials in Bern identified Switzerland as a potential repository for additional Russian assets. The assertion from the U.S. Ambassador to Switzerland, Scott Miller, emphasized the possibility of locating and freezing another 50 to 100 billion euros in assets. The objective cited is to consolidate as many Russian holdings as possible so they can be frozen and later used to support Ukraine’s recovery. This perspective aligns with a wider international effort to maximize leverage from frozen assets in the pursuit of post-conflict restitution. The commentary reflects ongoing negotiations among international partners about how best to process frozen funds while honoring legal commitments and international norms as the situation evolves. Source attribution for these statements comes from U.S. diplomatic channels and related policy briefings available in public records.