US Floats Unfreezing Some Russian Assets to Restart Ukraine Peace Talks — Europe Says No

WASHINGTON — The United States has proposed that European countries unfreeze some of the Russian sovereign assets immobilized since Moscow's 2022 invasion of Ukraine, and move the funds into a financial vehicle overseen by Washington, in a bid to revive stalled peace negotiations, the Financial Times reported on Wednesday.

According to the FT, which cited four people briefed on the matter, the proposal was raised during meetings last week in Miami, Florida, where US negotiators sat down with officials from Ukraine, France, Germany, the United Kingdom, the European Union, and NATO.

US special envoy Steve Witkoff and President Donald Trump's son-in-law Jared Kushner pitched the plan, presenting several possible mechanisms for releasing the assets — including transferring them to a new special-purpose financial vehicle under American supervision. Western countries froze roughly €260 billion (about $302 billion) in Russian sovereign assets in 2022, with the bulk of the funds held in the EU.

European delegates rebuffed the proposal, telling the Americans they would not hand control of the frozen assets to Washington or return any of them to Moscow. The idea reportedly surprised both Kyiv and European capitals, raising questions about how the Trump administration is pressuring Russia to end the war.

A US official told the FT that the use of frozen Russian assets had been discussed as part of a comprehensive peace agreement, but that the mechanisms for releasing the funds — and how the money would be spent — remained under consideration. The official added that various proposals had been floated over time regarding the potential use of Russia's immobilized assets after the war ends.

The report lands days after Trump's controversial diesel deal with Russian President Vladimir Putin, which required lifting some US sanctions so Russian diesel could flow to US and global markets — a move that drew sharp criticism from Ukrainian President Volodymyr Zelensky and European leaders. The assets proposal is the latest signal that Washington is assembling economic incentives to pull Moscow back to the negotiating table.

Ukraine and some European countries have long demanded that the frozen assets themselves be used to support Ukraine directly, but major powers have been reluctant, citing legal concerns. EU leaders agreed late last year that if Russia does not pay war reparations, the assets could be used to cover the cost of rebuilding Ukraine.

Sources

• Financial Times (via Reuters) — "US floats unfreezing some Russian assets to restart Ukraine peace talks"
• Times Now News — "US Proposes Unfreezing Some Russian Assets to Revive Ukraine Peace Talks"
• NOCUTNEWS — "Trump, desperate to end the war, even plays the 'unfreeze Russian assets' card"
• Bytes Europe — "US floats unfreezing some Russian assets to restart Ukraine peace talks: Report"