Ukrainian President Volodymyr Zelensky has called on the European Union to release €140 billion in frozen Russian central bank assets to support Ukraine’s defense and reconstruction efforts. In a November 13, 2025, interview, Zelensky framed the frozen funds as a form of reparations, declaring, “Russia has to pay for this war. They began this war, and they have to pay.”

The President emphasized that the funds would be critical for bolstering Ukraine’s air defenses, expanding drone production, and financing reconstruction projects as the country faces a looming funding crisis in February 2026. Zelensky argued that leveraging Russia’s immobilized assets is not only fair but necessary to sustain Ukraine’s resilience against ongoing aggression.

The frozen assets, totaling approximately €210 billion and held largely by Euroclear in Belgium, have been subject to international sanctions since the onset of Russia’s invasion. Zelensky’s proposal aligns with broader G7 initiatives that seek to utilize these resources to support Ukraine’s military and economic needs, transforming seized reserves into practical aid for the nation under siege.

Analysts note that unlocking the €140 billion would provide a substantial financial lifeline at a moment when Ukraine is preparing for continued military operations and long-term rebuilding. By framing the funds as reparations, Zelensky reinforces the moral and strategic imperative that Russia bears responsibility for the devastation caused by its war.

Zelensky’s appeal underscores the urgency of international cooperation to sustain Ukraine’s defense and recovery. With the February 2026 funding gap approaching, the President’s push aims to ensure that Ukraine remains equipped to defend its territory while laying the groundwork for post-war reconstruction and national resilience.