Opinion - Release and utilize Russian assets to support Ukraine's needs

On November 18, the European Union Commission unveiled a new regulation aimed at enhancing military mobility across the continent, with the goal of establishing a unified military mobility zone by 2027. The Commission described this initiative as a step toward creating a Military Schengen, similar in concept to the existing Schengen Zone that allows for borderless movement of people and goods. This new framework is intended to streamline and secure the transit of troops and military equipment throughout Europe.

The initiative coincides with increased EU investments in drone technology and other advanced defense systems, efforts to modernize the defense industry, and higher defense spending by member states. These measures reflect Europes strategic dual approach: a cautious assessment of the reliability of U.S. support for NATO, and persistent concern about Russias long-term ambitions beyond its current actions in Ukraine. The Trump administrations 28-point plan with Moscow, created without European or Ukrainian input, has exacerbated these anxieties, even if a revised 19-point version gains wider acceptance in Europe.

Despite plans for 2026, immediate concerns remain regarding the uneven contributions of EU and NATO members to Ukraines defense. Swedish Foreign Minister Maria Malmer Stenergard highlighted the disproportionate burden carried by Nordic countries, noting that with less than 30 million people, they provide one-third of the military support that NATO countries with nearly a billion people offer. She emphasized that this discrepancy reflects both the Nordic countries commitment and the shortfall of other member states.

Stenergard further expressed concerns in a recent email about the insufficient support from EU partners. She noted that while Europe has recently surpassed the U.S. in total military aid to Ukraine, the overall support is inadequate and unevenly distributed. Total EU assistance to Ukraine remains 124 billion euros less than the value of EU member state imports from Russia since the invasion, a situation she called a disgrace. She suggested that frozen Russian assets could be redirected to meet Ukraines military and civilian needs.

However, Belgium, which holds approximately three-fourths of the 260 billion euros in frozen Russian assets via Euroclear, has resisted releasing the funds, citing potential legal challenges from Russia. Belgian authorities seek guarantees from other EU members to share financial risks if Russia pursues litigation. Some countries, such as Hungary, are unwilling to support the unfreezing of these assets.

Following the unsuccessful Russo-American 28-point plan, the EU has intensified pressure on Belgium to release the funds to cover Ukraines $65 billion budget deficit and support military and reconstruction efforts. Nonetheless, Belgium remains steadfast, and some European officials suspect U.S. encouragement behind Brussels position, despite Washington allowing income generated from $5 billion in Russian assets it holds to be loaned to Kyiv.

Experts suggest that coordinated steps from the EU and U.S. could strengthen Ukraines immediate financial stability and long-term defense capabilities. These measures include using Russian assets as collateral with shared EU guarantees and unfreezing U.S.-held Russian funds. Implementing these actions promptly would reinforce Ukraines negotiating position in ongoing discussions with Moscow.

Dov S. Zakheim, a senior adviser at the Center for Strategic and International Studies and vice chairman of the Foreign Policy Research Institute, previously served as Undersecretary of Defense (Comptroller) and CFO for the U.S. Department of Defense from 2001 to 2004, and as a Deputy Undersecretary of Defense from 1985 to 1987.

Author: Sophia Brooks