Donald Tusk: The EU must use the frozen Russian assets to help Ukraine.

During a news conference in Warsaw on April 11, Polish Prime Minister Donald Tusk said the European Union should tap Russia’s frozen assets to help Ukraine because the windfall profits alone are insufficient.

Western allies have frozen nearly $280B in Russian assets, and more than two-thirds of them are being held in the EU. Most of these Russian funds have been immobilized through the Belgium-based clearing house Euroclear, which generated about €4.4B in profits last year.

“Using the profits from those assets alone is already something, but it’s certainly not enough,” Tusk said, speaking alongside his Estonian counterpart Kaja Kallas at a news conference in Warsaw.

According to various assessments, Ukraine needs more than $100B annually to change the dynamics at the frontlines. If Kyiv wants to switch from defensive tactics to an offensive and regain all its internationally recognized territories as of 1991, the amount of frozen assets in the EU can make this plan a reality.