According to the FT, the European countries’ peace plan envisages using frozen Russian assets worth more than €200B as security guarantees for Ukraine. France and Germany, which have long opposed confiscation of assets located in the European Union, are in discussions with the UK and other countries concerning their possible use.
French officials have discussed a proposal to confiscate assets with European capitals if Moscow violates a future ceasefire agreement in Ukraine. Supporters of this plan believe that in this way Russia can be forced to adhere to an agreement. Those familiar with the French proposal said that other European allies have received it well. But the plan is still far from being agreed upon.
Discussions on confiscating Russian assets have received new impetus following the Trump administration’s suspension of Ukraine’s military support. More and more countries are willing to use deferred asset seizure as leverage, one source said.