Spain to push for use of frozen Russian assets to fund Ukraine
Spain will advocate for using frozen Russian assets to support Ukraine’s defense at the G5+ meeting in Madrid on Monday, Foreign Minister Jose Manuel Albares said.
“Russia will have to pay war reparations to Ukraine at some point. This could be seen as an advance on those reparations,” Albares told reporters ahead of the summit.
Foreign ministers from France, Germany, Poland, Italy, Spain, Ukraine and the UK, along with the EU’s foreign policy chief, gathered in Madrid for the G5+ meeting – also known as the Weimar+ group – to coordinate European and Ukrainian defense strategy.
“There are many of us who believe we need to have this debate,” Albares said, referring to the use of frozen Russian assets. “It is more than legitimate to use this as financing, and that’s the position of Spain.”
European authorities have frozen approximately €200 billion ($216 billion) in Russian assets. While the EU has so far refrained from using the principal amount, it did allocate €1.5 billion in interest proceeds to support Kyiv last summer.
Albares said those funds could help ensure stable EU support for Ukraine’s defense.
The Spanish foreign minister also accused Russia of stalling ceasefire talks and called Moscow’s recent attacks on civilians “absolutely unacceptable.”
He said the G5+ would also discuss how to strengthen both Ukraine’s and Europe’s positions in negotiations for a “just and lasting peace.”
Spain will additionally push for the group to address security at Europe’s southern borders.
The G5+, or Weimar+, is a diplomatic alliance formed last month in response to shifting US policy on Ukraine and Europe.
It builds on the original Weimar Triangle – a regional alliance of France, Germany and Poland – by including the UK, Spain, Italy and the European Commission as participants.
