Putin: EU Tried to Rob Russian Assets Frozen in the Open

JAKARTA - The European Union's attempt to take over Russian assets is called a blatant robbery. The European Union is known to have agreed to disburse loan funds for Ukraine, but not from frozen Russian assets.

This affirmation was delivered by Russian President Vladimir Putin during the Direct Line question and answer session and the year-end press conference titled "This Year's Results."

"Theft is an inappropriate definition. Theft means stealing property secretly. But in this case, they tried to do it openly. That's robbery," he said as quoted by TASS, Friday, December 19.

EU leaders on Friday agreed to provide Ukraine with a large interest-free loan to meet its military and economic needs over the next two years.

But the EU failed to bridge the gap with Belgium, which allowed them to use frozen Russian assets to raise the funds.

After nearly four years of war, the International Monetary Fund estimates Ukraine will need 137 billion euros ($161 billion) in 2026 and 2027. The government in Kyiv is on the verge of bankruptcy, and desperately needs the money in the spring.

The plan is to use part of Russia's assets worth 210 billion euros ($246 billion) that have been frozen in Europe, mostly in Belgium.

The leaders worked late into Thursday to reassure Belgium they would protect it from Russian retaliation if it backed the "loan for reparations" plan. But in the end the leaders did not use that option, but as talks stalled, the leaders eventually chose to borrow money on the capital market.

"We have reached an agreement. The decision to provide support of 90 billion euros (106 billion US dollars) to Ukraine for 2026-2027 has been approved. We have committed, and we have kept our promise," said President of the European Council António Costa in a social media post reported by the Associated Press, Friday, December 19.