Ukraine is set to receive €90 billion from Russian assets that have been seized, following the collapse of recent peace talks. This significant financial package is expected to cover approximately two-thirds of Ukraine’s financing needs over the next two years. European leaders have indicated they are willing to bypass a veto held by Belgium, where a substantial portion of these seized assets is deposited in banks.
The announcement regarding these reparations comes after a tense five-hour summit in Moscow, where Russian President Vladimir Putin dismissed a US-led peace proposal as “completely unacceptable.” During this meeting with special envoy Steve Witkoff, Putin expressed readiness for conflict, stating, “If Europe wants to fight a war, we are ready.”
In response to Putin’s remarks, a spokesperson for UK Prime Minister Sir Keir Starmer criticized the Russian leader’s statements as “yet more Kremlin claptrap from a president who isn’t serious about peace.” This sentiment reflects the ongoing frustration felt by many Western leaders regarding Moscow’s approach to negotiation.
Disputed Peace Talks and Military Criticism
Despite Russia’s assertion that the recent talks were constructive, they warned that “a lot of work lies ahead.” The initial proposal presented by the US to Ukraine sparked outrage for its demands, which included ceding territory not currently occupied by Russian forces, forgoing NATO membership, and limiting the size of Ukraine’s military.
NATO chief Mark Rutte remarked that only Donald Trump could potentially break the deadlock in the ongoing negotiations. Meanwhile, UK Foreign Secretary Yvette Cooper urged Putin to “end the bluster and bloodshed,” highlighting the urgent need for a peaceful resolution to the conflict.
In a notable development, former commander of the Russian Ground Forces, Vladimir Chirkin, openly criticized the full-scale invasion of Ukraine. He acknowledged a severe miscalculation in military strategy, stating, “We had the traditional underestimation of the opponent and overestimation of our own military. During the first few weeks, we were taught a serious harsh lesson.”
With tensions remaining high and diplomatic efforts faltering, the financial support from seized Russian assets may be critical for Ukraine as it navigates the ongoing conflict. The international community continues to monitor the situation closely, seeking avenues for peace while addressing the humanitarian and economic ramifications of the war.
