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Zelensky asks NATO to buy weapons for Ukraine with $300b frozen Russian assets

Ukrainian leader, President Volodymyr Zelensky, has reiterated his call on the North Atlantic Treaty Organisation (NATO) to use the roughly 300 billion dollars in frozen assets belonging to Russia to buy weapons for his country.
It could be recalled that President Zelensky claimed earlier in the year that he made such a proposal to the president-elect of the United States, Mr. Donald Trump, during a phone conversation.
He said that he discussed the issue with the president-elect during their phone call in November, just days after the U.S. election.
Zelensky said he urged Mr. Trump to hand frozen Russian assets over to his country.
According to the Ukrainian leader, it will serve as a security guarantee in potential peace negotiations between Moscow and Kiev.
Meanwhile, some $300 billion in Russian funds were blocked by the West after Russia invaded Ukraine in February 2022.
Shortly after Moscow launched the full-scale invasion, members of the G7 froze around $300 billion worth of Russian Central Bank assets held in financial institutions abroad.
According to reports, over two third of the total sum is being held in the European Union.
To buy or not to buy
Western allies have since debated whether to appropriate these to provide further financial and military backing to the country, a move widely considered as theft by Russia.
In an interview with US podcaster Lex Fridman, Zelensky assured that his country needs peace but not without concrete guarantees.
He emphasised that in order to stop the war, there should be such guarantees that would survive the four years that Trump will be in office.
Zelensky, it could be noted, has been vocal about using frozen Russian assets to aid Ukraine’s reconstruction and defense efforts.
He suggested that the European Union and other allies could utilize these assets to help rebuild Ukraine and support its economy.
Zelensky also proposed using these funds to purchase American weapons, adding that it would benefit both Ukraine and the United States.
Suggesting using frozen Russian assets to purchase US arms, he had said: “Russian money, not Ukrainian, not European…
“They have to pay for this… This is one of the security guarantees
Topic of discussion
It’s worth noting that the use of frozen Russian assets has been a topic of discussion, with some countries considering using these assets to support Ukraine’s efforts in the ongoing conflict.
However, the specifics of how these assets would be used and distributed remain unclear.
This idea has sparked strong reactions from Russia, which has warned of serious consequences if these assets are used in this manner.
Speaking through the Russian Foreign Ministry’s spokeswoman, Maria Zakharova, President Vladimir Putin warned that Ukraine and its allies will face serious consequences if Russia’s frozen assets are used to finance Ukraine’s war effort.
In a press statement via Telegram, Zakharova said: “Zelensky begged the EU for $300 billion in Russian assets.
“The European Union knows how this will end for them. We honestly warned them that it will be very painful,” she added.
The statement had come in response to a recent request from Ukraine’s president for its European allies to draw upon the assets.
Zelensky was evidently concerned that Trump’s victory in the presidential election could jeopardize Kyiv’s most significant supporter.
In the meantime, Zelensky has been actively seeking support for Ukraine’s membership in NATO.
In an embarrassing development, Slovak Prime Minister Robert Fico accused Zelensky of offering him €500 million from frozen Russian assets.
Fico said the money was to lobby for Slovakia’s support for Ukraine’s NATO bid.
Latest update on Russia/Ukraine war
The Russia-Ukraine war is a complex and ongoing conflict and the situation in Ukraine remains intense.
Recently, Ukrainian forces attempted to shoot down a drone over Kyiv during a visit by UK Prime Minister Keir Starmer.
Meanwhile, Ukraine’s military reported hitting a Russian oil depot in the Voronezh region, causing a large fire.
Fighting continues on multiple fronts, with heavy clashes in the Pokrovsk sector.
Ukraine’s air force claimed that Russia hit its western part with 43 cruise and ballistic missiles as well as 74 drones.
President Zelenskyy has called for more security assistance from foreign allies and for Kyiv to be allowed to use nearly $300 billion of seized Russian assets to buy weapons.
It’s a complex and evolving situation, with significant impacts on both military and civilian fronts.
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