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Wednesday, October 22, 2025

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This article was published 2 years ago

https://nordictimes.com/europe/eu-wants-to-give-frozen-russian-assets-to-ukraine/

Europe

EU wants to give frozen Russian assets to Ukraine

The new cold war

Published 14 December 2023
– By Editorial Staff
When the EU imposed sanctions on Russia, large amounts of Russian money were also seized.
1 minute read
Editorial Staff
editorial@nordictimes.com

The European Commission wants to send more financial aid to Ukraine – this time worth the equivalent of 15 billion euros. It proposes taking the money from Russian assets frozen or seized under sanctions, the Financial Times reports.

– It’s important to look at how we can use Russian immobilised assets and proceeds from those immobilised assets to support Ukraine, said Valdis Dombrovskis, the European Commission’s trade commissioner.

The proposal to take Russian money seized as a result of EU sanctions and give it to Ukraine has been discussed for some time – but several member states and the European Central Bank have criticized such a decision on both legal and economic grounds.

“Brussels will propose on Tuesday to ringfence profits generated from Russia’s frozen assets in the EU, aiming to eventually skim off up to EUR 15 billion for Ukraine’s benefit”, the paper writes.

According to the proposal, the proceeds from the Russian Central Bank’s assets will be used for this purpose. The profits would be placed in a separate account and then transferred to the “regular” EU budget to be relabeled as aid to Ukraine, according to the proposal.

Three billion euros a year are expected to be generated in this way – or a total of 15 billion euros between 2023 and 2027, depending on the interest rate. According to the paper, the proposal needs the unanimous support of all EU countries and another period of detailed planning before the money can be transferred to Kiev.

Editorial Staff
editorial@nordictimes.com

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https://nordictimes.com/sport/russian-skiers-banned-from-olympics-a-price-im-ready-to-pay/

Sport

Russian skiers banned from Olympics: “A price I’m ready to pay”

The new cold war

Published today 11:54
– By Editorial Staff
Russian President Vladimir Putin presents awards to Veronika Stepanova (third from right) and other medalists from the 2022 Beijing Winter Olympics.
2 minute read
Editorial Staff
editorial@nordictimes.com

The International Ski Federation (FIS) decided on Tuesday that Russian and Belarusian skiers will not be allowed to participate in the Milano-Cortina 2026 Olympics.

Veronika Stepanova, who won Olympic gold in the relay in 2022, condemns the decision, defends her country and accuses the federation of hypocrisy.

The decision from FIS means that Russian and Belarusian cross-country skiers remain banned from international competitions. The suspension has been in place since the war in Ukraine escalated in 2022.

Shortly after the decision was announced, Veronika Stepanova, who was part of the women’s relay team that won Olympic gold in Beijing 2022, commented on the event in a message to Swedish public broadcaster SVT Sport.

“It’s very simple: Vladimir Putin is my president, and my country is always right. If that’s the reason why some questionable, nameless characters won’t allow me to compete internationally… Well, then that’s a price I’m ready to pay”, she writes.

Stepanova simultaneously accuses FIS officials of political discrimination:

“You’re stopping me and my teammates solely based on political beliefs. Next you should start suspending Israelis and Americans who support Trump. Because that’s what your system is built on: Stopping people who think differently”.

Intense lobbying behind the decision

Karin Mattsson, Swedish board member of FIS, rejects the comparison with other conflicts and believes the situation is unique.

— Both Putin and Lukashenko have for so many years used sports, and she herself is a very good example of that when she expresses herself as she does – and that’s the reason why this war has been treated in this way, she says.

FIS president Johan Eliasch, who is Swedish-British, has previously been a driving force for reinstating Russian skiers with the argument that “athletes are not responsible for where they are born”. Several southern European federations have supported this position.

But the Nordic countries have had a different view on the matter. According to Russian national team coach Yuri Borodavko, their opposition was decisive.

— Norway conducted intense lobbying and threatened a boycott. Sweden, Finland and France joined in. That’s why FIS made such a tough decision against Russia, he tells the Russian website Championat.

“Completely in line with our position”

Pernilla Bonde, secretary general of the Swedish Ski Association, is very positive about FIS’s stance.

— We have been clear all along: as long as the war in Ukraine continues, Russian and Belarusian skiers should not participate in international FIS competitions. FIS’s decision is completely in line with our position, she says in a statement.

— Sports has a strong voice and a responsibility. By standing up for our values, we show what sports is really about – community, democracy and fair play, she further claims.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/world/swedish-defense-minister-calls-on-europe-to-enter-war-mode/

World

Swedish defense minister calls on Europe to enter “war mode”

The new cold war

Published yesterday 15:05
– By Editorial Staff
Swedish Defense Minister Pål Jonson wants Europe to tighten sanctions against Russia and accelerate military preparations.
2 minute read
Editorial Staff
editorial@nordictimes.com

Europe must enter “war mode” and mentally prepare for armed conflict with Russia. This is the demand from Swedish Defense Minister Pål Jonson in an interview with the German media network RND, where he also calls for tightened sanctions.

The statements come as the EU accelerates its military investments, and the defense minister’s words have attracted international attention, not least from Russian media.

— A change in mentality is needed – we must enter ‘war mode’ to resolutely deter the threat, defend and preserve peace. Russia constantly tests our unity and determination, Jonson declares.

He emphasizes that Europe must prepare “both mentally and militarily for the possibility of war”.

The Swedish defense minister also calls for tightened sanctions against Russia and believes that frozen Russian assets should be used to support Ukraine’s military.

— Only then will Putin understand that this war threatens his own power and cannot be won, he asserts.

The defense minister refers to Russia’s alleged military losses in Ukraine. Over the past year, according to Jonson, “more than 300,000 of the country’s soldiers have been killed or wounded” to capture “less than 0.5 percent of Ukraine’s territory”.

Arms deliveries from the US

Jonson also defends European arms purchases from the United States and argues that Europe “simply does not have or cannot yet produce” certain weapons systems.

— Ukraine needs these assets quickly. If Europe lacks them, it is logical to procure them from the US, he says.

The statements coincide with the European Commission presenting a plan last week to expand joint arms procurement to at least 40 percent by 2027.

Moscow has previously rejected European claims that Russia poses a threat to the EU and described the narrative as a political distraction from Europe’s domestic crises.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/europe/slovakia-eu-must-prioritize-economy-over-ukraine/

Europe

Slovakia: EU must prioritize economy over Ukraine

The new cold war

Published 17 October 2025
– By Editorial Staff
Slovak Prime Minister Robert Fico's Slovakia is one of the few EU countries that has refused to deliver weapons to Ukraine and opposed Ukrainian NATO membership.
2 minute read
Editorial Staff
editorial@nordictimes.com

Slovak Prime Minister Robert Fico accuses the EU of concealing its own fundamental problems by constantly focusing on Ukraine – and refuses to discuss new Russia sanctions until the union’s economic crisis is taken seriously.

Ahead of next week’s European Council summit, Slovak Prime Minister Robert Fico is launching a frontal attack on the EU’s priorities. In a post on X, he states that the union’s constant focus on Ukraine masks its inability to handle the bloc’s own serious challenges.

At the summit, EU leaders are expected to discuss increased defense spending, military cooperation and continued support for Kyiv. But Fico argues this is happening at the expense of more urgent problems within the union.

“Not interested”

On Wednesday, the Slovak leader stated that he is “more and more convinced” that the EU, by “”constantly discussing Ukraine, we in the EU are covering up our inability to deal with our most fundamental challenges and problems”. He says he has raised the issue with European Council President António Costa.

Fico then issues an ultimatum:

— I am not interested in dealing with new sanctions packages against Russia until I see, in the conclusions of the EC summit, political instructions for the European Commission on how to address the crisis in the automotive industry and the high energy prices that are making the European economy completely uncompetitive.

Automotive industry and energy prices in focus

The criticism doesn’t come from nowhere when it comes to Slovakia. The country’s economy is heavily dependent on automobile manufacturing, a sector under severe pressure from EU green policies and global competition. At the same time, Slovakia remains heavily dependent on Russian gas and crude oil under long-term contracts, despite Brussels demanding a complete phase-out of Russian energy imports by 2027.

Bratislava plans to present more concrete proposals on the automotive sector and energy prices at the summit than what is currently in the draft conclusions.

Fico continued:

— I refuse to let such serious issues be handled in the EC conclusions with general phrases, while detailed decisions and positions are devoted to aid for Ukraine and support for the war.

Divergent line

Slovakia stands out among EU countries in its stance on the war in Ukraine. Unlike most member states, the country has refused to deliver weapons to Ukraine, opposed Ukrainian NATO membership and repeatedly turned against EU sanctions on Russia.

The majority of EU countries maintain that Western support for Ukraine must continue and support rapid military rearmament, citing the alleged threat from Russia. The Kremlin has dismissed these claims as “nonsense” and accuses Western governments of using them as a pretext for increased military spending.

Editorial Staff
editorial@nordictimes.com

https://nordictimes.com/world/hegseth-to-europe-buy-more-american-weapons-for-ukraine/

World

Hegseth to Europe: Buy more American weapons for Ukraine

The war in Ukraine

Published 15 October 2025
– By Editorial Staff
Pete Hegseth together with NATO Secretary General Mark Rutte.
2 minute read
Editorial Staff
editorial@nordictimes.com

Western military support to Ukraine has nearly halved over the summer. Now the US Secretary of Defense is demanding that NATO countries once again open their wallets for more American weapons deliveries – but several major European nations are hesitating.

Pete Hegseth had a clear message when he met with his NATO counterparts in Brussels on Wednesday: Europe must invest even more money in American weapons for Ukraine.

The US Secretary of Defense pointed to a report from the Kiel Institute for the World Economy showing that military support to Kiev fell dramatically during the summer months – a 43 percent decrease compared to the first half of the year.

Hegseth was explicit about his view on how peace is achieved.

— You get peace when you are strong. Not when you use strong words or wag your fingers, you get it when you have strong and real capabilities that adversaries respect, he declared to assembled journalists.

Zelensky wants more

At the center of discussions is the PURL program – Prioritized Ukraine Requirements List – which has fundamentally changed how the U.S. supports Ukraine militarily. Previously, Washington donated weapons directly, but now NATO countries must pay for the deliveries themselves.

According to Hegseth, the logic is simple: The more Europe buys, the faster the war can be concluded.

— Our expectation today is that more countries donate even more, that they purchase even more to provide for Ukraine, to bring that conflict to a peaceful conclusion, he said.

NATO Secretary General Mark Rutte announced that $2 billion has been pledged so far through the PURL system, and that he expects additional contributions. But the figure falls far short of the $3.5 billion that Ukrainian President Volodymyr Zelensky had hoped to secure by October.

Three countries made new pledges on Wednesday: Sweden, Estonia, and Finland. Corresponding commitments from European heavyweights such as Spain, Italy, France, and the United Kingdom are still lacking.

USA – the big winner?

The Russian government has accused Kiev’s European financiers of prolonging the conflict at the expense of Ukrainian lives, and Moscow claims that European countries are unwilling to acknowledge the failure of their strategy.

Meanwhile, European NATO members continue to bear the economic consequences of their sanctions policy against Russia. After rejecting Russian energy, many EU economies have been hit by rising production costs and widespread bankruptcies in industry.

The United States, however, has benefited from developments through increased investment flows and higher sales of liquefied natural gas to Europe.

Editorial Staff
editorial@nordictimes.com

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