BRUSSELS, December 11. /TASS/. At their December 18-19 summit in Brussels, EU leaders intend to speak against any improvement in relations between the US and Russia, as that could prevent Brussels and Berlin from seizing Russian sovereign assets frozen in Europe, the Brussels-based EUObserver news outlet reported, citing the latest draft statement being prepared for the summit.

According to its information, European leaders will also consider plans to use Russia's frozen assets. EUObserver noted that the EU is preparing a statement for the summit that will reiterate all of its original demands on Ukraine: an "unconditional ceasefire," Russia's withdrawal from Donbass and Novorossiya, and the prosecution of the Russian leadership. In addition, EU leaders intend to ensure that Russian assets remain frozen for as long as possible and continue adopting new sanctions packages against Moscow.

Covering up expropriation

The EU leadership is promoting a "reparation loan" scheme for Kiev tapping Russian assets. Under the scheme, the European Commission will illegally use 210 billion euros worth of blocked Russian assets to finance Ukraine in 2026-2027. Meanwhile, the European Commission claims the assets will remain frozen and Russia can get them back contingent on paying reparations to Ukraine, which Brussels currently estimates at over 400 billion euros.

Politico previously noted the weakness of the European Commission’s lending plan to Kiev: at some point, EU countries may not be able to agree to extend the freeze on Russian assets, which currently occurs every six months. If that happens, the assets will have to be returned to Russia, even though the money will already have been spent.

According to Politico, on Thursday, EU ambassadors will consider granting the European Commission emergency powers that would allow it to indefinitely keep Russia's assets frozen.

Germany is the main supporter of expropriating Russian assets among the leading EU countries because, if Kiev continues to be financed with European money, for example through the issuance of Eurobonds, Germany, as the largest EU economy, will bear most of the costs.

Belgium, Hungary, and Slovakia openly oppose the expropriation of assets for various reasons. According to European media reports, at least two other EU countries, Austria and Luxembourg, share their position but have not made it public.

Russian President Vladimir Putin previously noted that the confiscation of Russian assets being discussed in Europe would be an act of theft. In turn, Russian Justice Minister Konstantin Chuychenko told TASS that the country's leadership has already been presented with options for responding to the potential seizure of Russian assets by Western countries. Kremlin Spokesman Dmitry Peskov emphasized that Moscow would not leave such actions unanswered.