Reeves calls for EU to seize frozen Russian assets for Ukraine

Summarised from 2 outlets · Updated 29 Oct, 22:51 · Archive

Rachel Reeves has urged the European Union to seize €210bn of frozen Russian assets to help Ukraine defend itself.

Rachel Reeves, the former chancellor, has urged the European Union to seize €210bn (£175bn) of frozen Russian assets to help Ukraine defend itself against Russian aggression. In her first major intervention since leaving government, Reeves warned that Kyiv faces a funding shortfall as it confronts a desperate winter, particularly as Donald Trump seeks to pressure Ukraine to cut a deal with Moscow.

Reeves cautioned that without the funding Ukraine's capacity to sustain its defence will be gravely impaired, which would undermine Europe's security. She wrote the call to action in The Times alongside senior politicians from Germany, France and Canada: the former German defence minister Annegret Kramp-Karrenbauer, the former French minister for Europe Nathalie Loiseau and the former Canadian deputy prime minister and finance minister Chrystia Freeland.

The four politicians argued that the EU should take custody of the Russian assets it immobilised in 2022. They pointed out this funding would be sufficient to bankbank Ukraine's defence into 2029, eliminating the risk that elections in key EU member states next year might halt financial support for Kyiv.

How it is being reported

• Reeves urges EU to ‘act now’ and seize £175bn of Russian assets to protect UkraineThe former chancellor said Brussels must act now in her first major intervention since leaving governmentThe Independent · 29 Oct, 22:35
• Reeves tells EU ‘the time to act is now’ in seizing Russian assets for UkraineThe rallying call by the Labour former Cabinet minister comes as Donald Trump seeks to pressure Kyiv ‘to cut a deal with Moscow’.Evening Standard · 29 Oct, 21:49

In this story: Rachel Reeves · European Union · Ukraine · Annegret Kramp-Karrenbauer · Nathalie Loiseau · Chrystia Freeland · Russia

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